Airbnb, Inc. (NASDAQ:ABNB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Airbnb, Inc. (NASDAQ:ABNB) have earned an average rating of “Hold” from the thirty-four ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $148.6923.

Several research analysts have recently issued reports on ABNB shares. B. Riley Financial upgraded shares of Airbnb from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $170.00 in a report on Monday, January 12th. Morgan Stanley set a $120.00 price target on Airbnb in a research note on Friday, February 13th. Sanford C. Bernstein dropped their price objective on Airbnb from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. Wedbush reaffirmed a “neutral” rating and set a $130.00 target price on shares of Airbnb in a research note on Friday, February 13th. Finally, Barclays boosted their price target on shares of Airbnb from $120.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th.

Airbnb Trading Up 1.7%

ABNB opened at $127.89 on Friday. The business’s 50 day moving average is $131.09 and its 200-day moving average is $125.96. The stock has a market cap of $78.72 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. Airbnb has a twelve month low of $99.88 and a twelve month high of $154.57.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. As a group, analysts forecast that Airbnb will post 4.31 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $121.15, for a total transaction of $7,026,700.00. Following the completion of the sale, the director directly owned 402,015 shares in the company, valued at approximately $48,704,117.25. This trade represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 2,565 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $134.79, for a total value of $345,736.35. Following the completion of the transaction, the chief technology officer directly owned 165,086 shares in the company, valued at $22,251,941.94. This represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,027,422 shares of company stock valued at $127,060,208 in the last ninety days. Company insiders own 27.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Harris Associates L P boosted its position in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after buying an additional 4,292,383 shares during the period. Independent Franchise Partners LLP acquired a new position in Airbnb in the 3rd quarter valued at approximately $505,672,000. Norges Bank purchased a new stake in shares of Airbnb during the second quarter worth $483,644,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Airbnb by 453.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares during the last quarter. Finally, SRS Investment Management LLC acquired a new position in Airbnb in the fourth quarter worth approximately $342,017,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.