Airbnb’s (ABNB) Neutral Rating Reaffirmed at Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research note issued to investors on Thursday,Benzinga reports. They presently have a $152.00 price target on the stock. Wedbush’s target price points to a potential upside of 2.44% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on ABNB. Truist Financial lifted their price target on Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a report on Friday, June 12th. CICC Research assumed coverage on Airbnb in a report on Friday, June 5th. They issued an “outperform” rating and a $165.00 price objective for the company. Barclays raised their target price on Airbnb from $122.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Wells Fargo & Company lifted their target price on Airbnb from $178.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group boosted their price target on Airbnb from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Airbnb presently has an average rating of “Moderate Buy” and a consensus price target of $159.84.

Airbnb Stock Up 1.3%

ABNB stock opened at $148.38 on Thursday. The stock has a market cap of $89.43 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The firm’s 50-day simple moving average is $138.89 and its 200 day simple moving average is $134.26. Airbnb has a fifty-two week low of $110.81 and a fifty-two week high of $150.75. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Airbnb will post 4.91 EPS for the current year.

Insider Activity at Airbnb

In related news, Director Kenneth I. Chenault sold 8,346 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the transaction, the director owned 40,879 shares in the company, valued at $6,131,850. This trade represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elinor Mertz sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $148.01, for a total value of $555,037.50. Following the sale, the chief financial officer directly owned 445,290 shares in the company, valued at approximately $65,907,372.90. The trade was a 0.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is currently owned by insiders.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harris Associates L P grew its stake in shares of Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares during the last quarter. Norges Bank acquired a new stake in Airbnb during the fourth quarter valued at approximately $480,332,000. Jennison Associates LLC boosted its holdings in Airbnb by 9,331.0% during the first quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock worth $400,681,000 after buying an additional 3,139,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Airbnb by 453.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after buying an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC acquired a new position in Airbnb in the fourth quarter worth approximately $342,017,000. Institutional investors own 80.76% of the company’s stock.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.