Airbnb’s (ABNB) “Buy” Rating Reaffirmed at Benchmark

Airbnb (NASDAQ:ABNB)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark in a research note issued on Friday,Benzinga reports. They presently have a $155.00 price target on the stock. Benchmark’s price objective points to a potential upside of 13.40% from the stock’s current price.

Several other equities analysts also recently issued reports on ABNB. Truist Financial dropped their price target on shares of Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. TD Cowen lowered their target price on Airbnb from $170.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley reduced their price target on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Sanford C. Bernstein lowered their price objective on Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Finally, Argus lowered Airbnb from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $136.65.

Airbnb Price Performance

ABNB traded down $10.68 on Friday, reaching $136.69. The stock had a trading volume of 4,115,778 shares, compared to its average volume of 4,410,830. The firm has a 50-day moving average of $128.79 and a 200-day moving average of $137.88. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a market capitalization of $87.70 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the business earned $0.98 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Airbnb will post 4.17 EPS for the current year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 11,635 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Joseph Gebbia sold 11,635 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total value of $1,596,322.00. Following the completion of the sale, the director now owns 16,472 shares in the company, valued at $2,259,958.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock valued at $51,809,831 over the last three months. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group purchased a new stake in shares of Airbnb during the 1st quarter valued at $303,000. Empirical Finance LLC bought a new position in Airbnb during the first quarter valued at about $339,000. Envestnet Portfolio Solutions Inc. increased its holdings in Airbnb by 45.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 25,021 shares of the company’s stock worth $4,127,000 after buying an additional 7,849 shares during the last quarter. Empowered Funds LLC raised its position in Airbnb by 138.4% in the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock worth $1,694,000 after acquiring an additional 5,962 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Airbnb by 12.6% in the first quarter. Oppenheimer & Co. Inc. now owns 29,375 shares of the company’s stock valued at $4,846,000 after acquiring an additional 3,278 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Airbnb

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.