Airbnb (NASDAQ:ABNB) Sets New 12-Month High on Analyst Upgrade

Airbnb, Inc. (NASDAQ:ABNB)’s share price reached a new 52-week high on Tuesday after Robert W. Baird raised their price target on the stock from $150.00 to $160.00. Robert W. Baird currently has an outperform rating on the stock. Airbnb traded as high as $150.19 and last traded at $147.17, with a volume of 4850612 shares trading hands. The stock had previously closed at $145.56.

Several other research firms have also recently issued reports on ABNB. Weiss Ratings raised Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Truist Financial raised their target price on Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. Mizuho boosted their target price on Airbnb from $156.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Citigroup reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Finally, HC Wainwright upgraded shares of Airbnb to a “buy” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.36.

Insider Buying and Selling at Airbnb

In other news, CEO Brian Chesky sold 265,746 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 11,206,389 shares of the company’s stock, valued at approximately $1,481,708,753.58. The trade was a 2.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 265,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $135.45, for a total value of $35,894,250.00. Following the completion of the sale, the director directly owned 3,182,355 shares of the company’s stock, valued at $431,049,984.75. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,005,339 shares of company stock worth $273,061,091 over the last 90 days. Corporate insiders own 27.21% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new position in shares of Airbnb in the 1st quarter valued at $258,000. Intech Investment Management LLC boosted its stake in Airbnb by 55.8% during the 1st quarter. Intech Investment Management LLC now owns 12,161 shares of the company’s stock worth $1,453,000 after purchasing an additional 4,353 shares during the period. Sivia Capital Partners LLC boosted its stake in Airbnb by 18.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,866 shares of the company’s stock worth $776,000 after purchasing an additional 927 shares during the period. WINTON GROUP Ltd purchased a new position in Airbnb during the 2nd quarter worth $411,000. Finally, NewEdge Advisors LLC grew its position in Airbnb by 9.8% during the 2nd quarter. NewEdge Advisors LLC now owns 54,054 shares of the company’s stock worth $7,153,000 after purchasing an additional 4,811 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Trading Up 1.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $88.70 billion, a price-to-earnings ratio of 36.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16. The business’s 50 day simple moving average is $137.54 and its 200 day simple moving average is $133.08.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, May 7th. The company reported $0.26 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 business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Airbnb’s quarterly revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that Airbnb, Inc. will post 4.91 EPS for the current year.

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.