Airbnb’s (ABNB) Hold Rating Reiterated at Needham & Company LLC

Airbnb (NASDAQ:ABNB)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

ABNB has been the subject of several other research reports. Jefferies Financial Group upgraded shares of Airbnb from a “hold” rating to a “buy” rating and increased their target price for the company from $165.00 to $185.00 in a research note on Monday, March 10th. HSBC upgraded Airbnb from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group lowered their price objective on Airbnb from $160.00 to $138.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. DA Davidson upgraded Airbnb from a “neutral” rating to a “buy” rating and cut their target price for the company from $170.00 to $155.00 in a research note on Wednesday, April 30th. Finally, Gordon Haskett upgraded shares of Airbnb from a “sell” rating to a “hold” rating and set a $143.00 price target on the stock in a research note on Friday, February 14th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average target price of $141.43.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $138.05 on Wednesday. Airbnb has a 12 month low of $99.88 and a 12 month high of $163.93. The company has a market cap of $87.05 billion, a P/E ratio of 33.43, a P/E/G ratio of 3.52 and a beta of 1.14. The business’s 50 day moving average is $121.42 and its two-hundred day moving average is $131.21. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Airbnb will post 4.31 EPS for the current year.

Insiders Place Their Bets

In related news, insider Nathan Blecharczyk sold 183,078 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $158.00, for a total transaction of $28,926,324.00. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $26,046,300. The trade was a 52.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elinor Mertz sold 25,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $160.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the chief financial officer now owns 459,988 shares in the company, valued at $73,598,080. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,983,669 shares of company stock valued at $266,947,699. 27.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

A number of institutional investors have recently made changes to their positions in ABNB. MJP Associates Inc. ADV grew its position in shares of Airbnb by 1.8% during the 4th quarter. MJP Associates Inc. ADV now owns 3,730 shares of the company’s stock worth $490,000 after buying an additional 67 shares during the period. CAP Partners LLC raised its holdings in Airbnb by 3.6% in the fourth quarter. CAP Partners LLC now owns 2,229 shares of the company’s stock worth $293,000 after purchasing an additional 77 shares during the period. Lindbrook Capital LLC raised its holdings in Airbnb by 1.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,540 shares of the company’s stock worth $728,000 after purchasing an additional 78 shares during the period. Ellevest Inc. boosted its position in shares of Airbnb by 3.1% during the fourth quarter. Ellevest Inc. now owns 2,655 shares of the company’s stock worth $349,000 after purchasing an additional 80 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Airbnb by 12.2% in the 1st quarter. Harbour Investments Inc. now owns 738 shares of the company’s stock valued at $88,000 after buying an additional 80 shares during the period. 80.76% of the stock is 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.