Airbnb’s (ABNB) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Airbnb (NASDAQ:ABNB) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $155.00 price target on the stock.

A number of other research firms also recently issued reports on ABNB. Jefferies Financial Group lifted their price objective on shares of Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company raised their price target on shares of Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a research report on Monday, December 1st. Royal Bank Of Canada upped their price objective on shares of Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, BNP Paribas Exane initiated coverage on Airbnb in a research note on Monday, November 24th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $143.88.

Airbnb Stock Up 2.9%

ABNB opened at $124.32 on Friday. The company has a 50-day simple moving average of $121.53 and a 200 day simple moving average of $127.45. The stock has a market capitalization of $76.53 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 2.19 and a beta of 1.11. Airbnb has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.10). The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. Sell-side analysts anticipate that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 549 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $116.04, for a total value of $63,705.96. Following the transaction, the chief technology officer owned 187,686 shares in the company, valued at approximately $21,779,083.44. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elinor Mertz sold 7,500 shares of the stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $130.00, for a total value of $975,000.00. Following the transaction, the chief financial officer directly owned 436,570 shares of the company’s stock, valued at approximately $56,754,100. This trade represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,575,867 shares of company stock worth $190,875,764. Company insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Several hedge funds and other institutional investors have recently modified their holdings of ABNB. Allworth Financial LP boosted its holdings in Airbnb by 57.1% in the 3rd quarter. Allworth Financial LP now owns 5,856 shares of the company’s stock worth $711,000 after buying an additional 2,129 shares during the period. IFP Advisors Inc lifted its position in shares of Airbnb by 21.5% during the third quarter. IFP Advisors Inc now owns 2,914 shares of the company’s stock worth $354,000 after acquiring an additional 516 shares in the last quarter. Investment Research Partners LLC purchased a new stake in shares of Airbnb during the third quarter worth $252,000. Cambria Investment Management L.P. bought a new position in shares of Airbnb in the third quarter worth $227,000. Finally, ARQ Wealth Advisors LLC purchased a new position in shares of Airbnb in the third quarter valued at $246,000. 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.