Airbnb (NASDAQ:ABNB) Reaches New 1-Year High – Time to Buy?

Airbnb, Inc. (NASDAQ:ABNB)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $151.24 and last traded at $150.0270, with a volume of 829121 shares. The stock had previously closed at $146.86.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ABNB shares. Weiss Ratings upgraded Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. DA Davidson upped their price target on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Rodman & Renshaw started coverage on Airbnb in a research report on Monday, May 4th. They issued a “buy” rating for the company. Morgan Stanley downgraded shares of Airbnb from an “underweight” rating to an “underweight” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $170.00 target price on shares of Airbnb in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.23.

Airbnb Stock Up 3.6%

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $140.10 and its 200 day moving average price is $134.68. The company has a market capitalization of $91.69 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.51 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.62 billion. Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts predict that Airbnb, Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction on Monday, June 29th. The stock was sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the transaction, the director owned 2,622,452 shares in the company, valued at approximately $389,250,550.36. The trade was a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Chesky sold 265,746 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total value of $35,136,936.12. Following the sale, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. The trade was a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,245,479 shares of company stock valued at $310,454,308 in the last three months. 27.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Regent Peak Wealth Advisors LLC acquired a new position in Airbnb during the second quarter valued at approximately $284,000. Family Wealth Partners LLC boosted its position in shares of Airbnb by 5.9% during the second quarter. Family Wealth Partners LLC now owns 2,324 shares of the company’s stock worth $333,000 after purchasing an additional 130 shares in the last quarter. Tema ETFs LLC grew its holdings in shares of Airbnb by 8.9% in the 2nd quarter. Tema ETFs LLC now owns 7,062 shares of the company’s stock valued at $1,011,000 after buying an additional 580 shares during the period. Chemistry Wealth Management LLC grew its holdings in shares of Airbnb by 3.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 29,453 shares of the company’s stock valued at $4,215,000 after buying an additional 1,065 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Airbnb by 16.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,076 shares of the company’s stock valued at $869,000 after buying an additional 875 shares in the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.