DA Davidson Forecasts Strong Price Appreciation for Airbnb (NASDAQ:ABNB) Stock

Airbnb (NASDAQ:ABNB) had its price objective boosted by DA Davidson from $131.00 to $170.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently commented on ABNB. Gordon Haskett upgraded Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price objective for the company in a research note on Friday. Jefferies Financial Group upped their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Barclays increased their price target on Airbnb from $110.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday. TD Cowen increased their price target on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, UBS Group increased their price target on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Hold” and a consensus target price of $145.79.

Airbnb Price Performance

Shares of ABNB opened at $161.42 on Friday. The company has a market cap of $102.34 billion, a P/E ratio of 56.64, a PEG ratio of 1.88 and a beta of 1.12. The stock has a fifty day moving average price of $133.49 and a 200 day moving average price of $130.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.62 and a quick ratio of 1.62. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, research analysts forecast that Airbnb will post 3.97 earnings per share for the current year.

Insider Activity

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the completion of the sale, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. This trade represents a 95.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the sale, the insider now owns 164,850 shares of the company’s stock, valued at $21,466,767. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,608,005 shares of company stock valued at $214,394,023 over the last three months. Insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of institutional investors have recently bought and sold shares of the business. Meiji Yasuda Life Insurance Co boosted its position in Airbnb by 56.4% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 3,523 shares of the company’s stock worth $463,000 after acquiring an additional 1,270 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Airbnb during the 4th quarter worth about $4,139,000. Davidson Kahn Capital Management LLC acquired a new stake in Airbnb during the 4th quarter worth about $936,000. Comerica Bank boosted its position in Airbnb by 10.2% during the 4th quarter. Comerica Bank now owns 93,890 shares of the company’s stock worth $12,338,000 after acquiring an additional 8,719 shares during the period. Finally, Utah Retirement Systems boosted its position in Airbnb by 0.3% during the 4th quarter. Utah Retirement Systems now owns 60,100 shares of the company’s stock worth $7,898,000 after acquiring an additional 200 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.