Airbnb (NASDAQ:ABNB) Stock Rating Reaffirmed by Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Tuesday, RTT News reports. They currently have a $165.00 price objective on the stock. Wedbush’s target price points to a potential upside of 18.71% from the stock’s previous close.

Several other brokerages also recently weighed in on ABNB. B. Riley Financial started coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price for the company. Morgan Stanley boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Piper Sandler reiterated a “neutral” rating and issued a $155.00 price target (up from $145.00) on shares of Airbnb in a research note on Thursday, May 9th. Truist Financial upped their price objective on shares of Airbnb from $131.00 to $134.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Mizuho upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $152.50.

Airbnb Trading Down 0.9 %

Shares of NASDAQ ABNB traded down $1.30 during trading hours on Tuesday, reaching $138.99. The stock had a trading volume of 2,993,823 shares, compared to its average volume of 4,326,856. Airbnb has a 52-week low of $113.24 and a 52-week high of $170.10. The firm has a market cap of $89.52 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.73 and a beta of 1.18. The business’s fifty day moving average price is $147.66 and its two-hundred day moving average price is $152.32. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts expect that Airbnb will post 4.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $162.00, for a total transaction of $97,200.00. Following the transaction, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at $35,624,448. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total transaction of $97,200.00. Following the completion of the sale, the chief technology officer now directly owns 219,904 shares of the company’s stock, valued at approximately $35,624,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total transaction of $6,750,299.60. Following the completion of the transaction, the director now directly owns 46,467 shares in the company, valued at approximately $6,971,908.68. The disclosure for this sale can be found here. Insiders sold 735,492 shares of company stock valued at $109,423,324 in the last three months. 27.83% of the stock is currently owned by insiders.

Institutional Trading of Airbnb

Several hedge funds have recently made changes to their positions in ABNB. Transcendent Capital Group LLC purchased a new position in Airbnb in the first quarter valued at $25,000. Bfsg LLC acquired a new stake in Airbnb in the 4th quarter valued at about $27,000. Trust Co. of Vermont purchased a new position in shares of Airbnb in the 4th quarter valued at about $27,000. New Millennium Group LLC acquired a new position in shares of Airbnb during the second quarter worth about $28,000. Finally, Vima LLC purchased a new stake in shares of Airbnb during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.