Airbnb’s (ABNB) “Outperform” Rating Reaffirmed at Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Tuesday,RTT News reports. They presently have a $155.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 19.00% from the company’s current price.

ABNB has been the subject of a number of other reports. Phillip Securities reiterated a “reduce” rating and set a $120.00 price objective on shares of Airbnb in a research note on Tuesday, November 12th. UBS Group upped their price objective on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company decreased their price target on Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a report on Thursday, January 16th. Benchmark restated a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. Finally, Citigroup increased their price target on Airbnb from $135.00 to $158.00 and gave the company a “buy” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average target price of $139.63.

Airbnb Stock Performance

NASDAQ:ABNB traded up $0.48 during mid-day trading on Tuesday, reaching $130.26. The company’s stock had a trading volume of 404,675 shares, compared to its average volume of 3,835,361. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The firm’s fifty day moving average price is $133.47 and its two-hundred day moving average price is $130.39. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market cap of $82.58 billion, a P/E ratio of 45.69, a PEG ratio of 1.72 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. On average, equities analysts forecast that Airbnb will post 3.98 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at $25,218,158.14. This represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $139.94, for a total transaction of $10,764,604.62. Following the sale, the chief executive officer now directly owns 12,616,300 shares in the company, valued at approximately $1,765,525,022. The trade was a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,372,293 shares of company stock worth $181,759,318 over the last quarter. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently modified their holdings of ABNB. Northwest Investment Counselors LLC acquired a new position in shares of Airbnb during the third quarter valued at about $25,000. Golden State Wealth Management LLC acquired a new position in Airbnb in the 4th quarter valued at $25,000. Hollencrest Capital Management raised its stake in Airbnb by 6,666.7% in the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Airbnb in the 4th quarter worth $26,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Airbnb during the 3rd quarter worth $30,000. Institutional investors own 80.76% of the company’s stock.

About Airbnb

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.