TD Cowen Updates Positive Outlook for Airbnb (NASDAQ:ABNB) Stock

TD Cowen has recently increased its price target for Airbnb (NASDAQ:ABNB) from $150.00 to $155.00. This adjustment was detailed in a research report issued on Friday. Along with this news, TD Cowen has rated the stock as a "buy." This new price target indicates that there is a potential upside of 15.41% based on Airbnb's current stock price.

Other analysts have also shared their views on Airbnb’s stock. For instance, Mizuho recently lowered its target price from $175.00 to $170.00, while also maintaining an "outperform" rating. In contrast, UBS Group raised its target for Airbnb from $134.00 to $144.00, assigning a "neutral" rating. Additionally, B. Riley reduced their target from $150.00 to $140.00, keeping a neutral stance. Meanwhile, Sanford C. Bernstein adjusted its price objective to $155.00 from $174.00, indicating an "outperform" rating. On the other hand, Barclays lowered their target from $110.00 to $100.00 and assigned an "underweight" rating for the stock.

In total, five analysts have rated Airbnb's stock as a sell, nineteen have given it a hold rating, and eight analysts have classified it as a buy. According to data collected from various sources, the current consensus rating for Airbnb's stock remains as "Hold," with a consensus target price of approximately $138.94.

Airbnb Price Performance

On the trading floor, shares of Airbnb (NASDAQ:ABNB) saw a decline of $13.07, bringing its price to $134.30 during Friday's session. The trading volume reached 11,836,553 shares, significantly higher than the average volume of 4,456,895. Over the last year, Airbnb's stock has experienced a low point of $110.38 and a high point of $170.10. As of this writing, the company’s market capitalization stands at $86.17 billion, with a P/E ratio of 18.27. Other financial indicators include a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. The company maintains a quick ratio of 1.41 and a current ratio of 1.41, alongside a low debt-to-equity ratio of 0.25. Meanwhile, the 50-day moving average rests at $128.79 and the 200-day moving average stands at $137.88.

Earnings Reports

Recently, Airbnb reported its quarterly earnings data on August 6th, where the company shared that it recorded $0.86 earnings per share. This figure fell short of analysts' expectations, which had anticipated $0.92. Revenue for the quarter amounted to $2.75 billion, slightly above the consensus estimate of $2.74 billion. Notably, Airbnb achieved a return on equity of 34.74% and a net margin of 46.11%. Year-over-year, the company's revenue showed an increase of 10.6%. In the same quarter of the previous year, Airbnb had earned $0.98 per share. Analysts project that Airbnb will end the current year with an expected earnings per share (EPS) of $4.17.

Insider Trading Activities

In other noteworthy news, on October 29th, Director Joseph Gebbia sold 11,635 shares of Airbnb stock at an average price of $137.20, totaling approximately $1,596,322.00. Post-transaction, Gebbia holds 16,472 shares valued around $2,259,958.40. This sale signifies a negligible change in his ownership stake. The information regarding this transaction has been disclosed to the SEC and is accessible through their official website.

In a similar vein, another insider, Chief Technology Officer Aristotle N. Balogh, sold 600 shares at an average price of $118.94 on August 20th, making for a transaction value of $71,364.00. After this sale, Balogh's holding comprises 198,244 shares worth about $23,579,141.36, which also indicates a negligible reduction in his ownership position. In the last three months, insiders have sold a total of 417,806 shares amounting to $51,809,831, with corporate insiders currently owning 27.83% of the stock.

Institutional Investors' Interest

In terms of institutional investments, several hedge funds have made notable changes to their positions concerning Airbnb. Transcendent Capital Group LLC initiated a new investment in the company during the first quarter, valued at roughly $25,000. Northwest Investment Counselors LLC also acquired a new stake in Airbnb during the third quarter, valued at about $25,000. Furthermore, Hollencrest Capital Management dramatically increased its position in Airbnb by 6,666.7% in the third quarter, now owning 203 shares valued at $26,000. New Millennium Group LLC made a fresh investment valued at approximately $28,000 during the second quarter. Finally, Cultivar Capital Inc. added another investment in Airbnb worth around $30,000. Currently, institutional investors hold 80.76% of the stock in the company.

Airbnb Company Overview

Airbnb, Inc. operates a platform that allows hosts to list their properties and offer unique experiences to guests worldwide. The platform connects hosts with guests online and through mobile applications, facilitating the booking of accommodations and experiences. The offerings mainly include private rooms, entire homes, and vacation properties.

Airbnb, Investors, Rating