Airbnb’s (ABNB) Neutral Rating Reaffirmed at Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $160.00 price target on the stock. Wedbush’s price target suggests a potential downside of 0.37% from the company’s current price.

Other equities analysts have also issued reports about the stock. Mizuho boosted their price target on shares of Airbnb from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna boosted their price target on shares of Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, February 14th. Bank of America boosted their price target on shares of Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. B. Riley initiated coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Finally, Barclays boosted their target price on shares of Airbnb from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $147.58.

Airbnb Price Performance

Shares of ABNB stock traded up $2.23 on Thursday, reaching $160.60. 1,674,088 shares of the company were exchanged, compared to its average volume of 4,593,751. The company has a market cap of $103.92 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.01 and a beta of 1.25. The business has a 50-day moving average price of $159.21 and a 200 day moving average price of $141.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. Airbnb has a 1 year low of $103.55 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. Equities research analysts forecast that Airbnb will post 4.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 75,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the sale, the chief technology officer now owns 146,131 shares in the company, valued at approximately $22,695,605.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Nathan Blecharczyk sold 11,420 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $140.03, for a total value of $1,599,142.60. Following the completion of the transaction, the insider now owns 542,342 shares in the company, valued at approximately $75,944,150.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the transaction, the chief technology officer now owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Insiders sold a total of 490,584 shares of company stock worth $77,302,032 in the last 90 days. Company insiders own 30.84% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently made changes to their positions in ABNB. Vanguard Group Inc. increased its holdings in shares of Airbnb by 43.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,238,727 shares of the company’s stock valued at $4,697,896,000 after purchasing an additional 10,301,746 shares in the last quarter. Norges Bank purchased a new position in shares of Airbnb in the 4th quarter valued at about $619,584,000. Edgewood Management LLC increased its holdings in Airbnb by 20.8% during the 4th quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock valued at $1,690,556,000 after acquiring an additional 2,135,529 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Airbnb during the 3rd quarter valued at about $235,338,000. Finally, Northern Trust Corp increased its holdings in Airbnb by 41.3% during the 3rd quarter. Northern Trust Corp now owns 4,363,711 shares of the company’s stock valued at $598,745,000 after acquiring an additional 1,276,456 shares in the last quarter. Hedge funds and other institutional investors 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.