Airbnb (NASDAQ:ABNB) Stock Rating Upgraded by Citizens Jmp

Airbnb (NASDAQ:ABNB) was upgraded by stock analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage currently has a $160.00 price target on the stock. Citizens Jmp’s price objective suggests a potential upside of 31.07% from the company’s current price.

Several other analysts have also weighed in on ABNB. Wedbush boosted their target price on shares of Airbnb from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Jefferies Financial Group lifted their price target on shares of Airbnb from $160.00 to $165.00 and gave the company a “buy” rating in a report on Friday, December 5th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a research report on Friday, November 7th. Barclays set a $120.00 target price on shares of Airbnb and gave the stock an “equal weight” rating in a report on Friday, January 9th. Finally, Mizuho set a $156.00 target price on Airbnb in a report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nineteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $149.04.

Airbnb Stock Down 7.0%

Shares of Airbnb stock opened at $122.07 on Wednesday. The business has a 50-day moving average price of $130.97 and a 200 day moving average price of $127.16. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a market cap of $75.14 billion, a P/E ratio of 29.00, a P/E/G ratio of 2.03 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business posted $2.13 EPS. Airbnb’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 2,565 shares of Airbnb stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $134.79, for a total transaction of $345,736.35. Following the sale, the chief technology officer owned 165,086 shares of the company’s stock, valued at approximately $22,251,941.94. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $133.28, for a total value of $7,730,240.00. Following the transaction, the director owned 460,015 shares of the company’s stock, valued at approximately $61,310,799.20. This represents a 11.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,202,272 shares of company stock worth $148,094,596 over the last ninety days. 27.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABNB. GCQ FUNDS MANAGEMENT PTY Ltd increased its holdings in shares of Airbnb by 77.7% during the fourth quarter. GCQ FUNDS MANAGEMENT PTY Ltd now owns 553,884 shares of the company’s stock valued at $75,173,000 after purchasing an additional 242,166 shares during the period. Oxbow Advisors LLC grew its position in Airbnb by 122.9% in the 4th quarter. Oxbow Advisors LLC now owns 50,414 shares of the company’s stock valued at $6,842,000 after buying an additional 27,793 shares in the last quarter. NewEdge Wealth LLC grew its position in Airbnb by 3.7% in the 4th quarter. NewEdge Wealth LLC now owns 14,265 shares of the company’s stock valued at $1,936,000 after buying an additional 513 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Airbnb by 19.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 110,622 shares of the company’s stock valued at $15,014,000 after buying an additional 17,663 shares during the period. Finally, Ethic Inc. raised its position in shares of Airbnb by 14.8% during the 4th quarter. Ethic Inc. now owns 46,854 shares of the company’s stock worth $6,359,000 after buying an additional 6,029 shares in the last quarter. Institutional investors and hedge funds 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.