Airbnb’s (ABNB) “Outperform” Rating Reaffirmed at Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They presently have a $155.00 price target on the stock. Wedbush’s target price suggests a potential upside of 19.00% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. TD Cowen upped their target price on shares of Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Citigroup upped their target price on shares of Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $155.00 target price on shares of Airbnb in a research note on Friday, November 8th. Finally, DA Davidson upped their target price on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Airbnb presently has an average rating of “Hold” and an average price target of $139.63.

Airbnb Stock Performance

Shares of ABNB stock traded up $0.48 during trading on Tuesday, reaching $130.26. 404,675 shares of the company’s stock traded hands, compared to its average volume of 3,835,361. The company has a market capitalization of $82.58 billion, a P/E ratio of 45.69, a PEG ratio of 1.72 and a beta of 1.12. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $133.47 and its 200 day moving average is $130.39. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company earned $2.39 EPS. Equities research analysts expect that Airbnb will post 3.98 EPS for the current year.

Insider Activity

In related news, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total transaction of $68,005.00. Following the sale, the chief technology officer now owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Gebbia sold 214,285 shares of Airbnb stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total value of $28,088,477.80. Following the sale, the director now directly owns 10,321 shares in the company, valued at $1,352,876.68. This trade represents a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,372,293 shares of company stock worth $181,759,318 over the last three months. 27.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Airbnb

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABNB. Pacer Advisors Inc. increased its stake in Airbnb by 6,085.6% in the 3rd quarter. Pacer Advisors Inc. now owns 4,241,557 shares of the company’s stock worth $537,872,000 after acquiring an additional 4,172,985 shares during the last quarter. Meritage Group LP purchased a new position in shares of Airbnb in the 3rd quarter worth approximately $160,985,000. Principal Financial Group Inc. boosted its holdings in shares of Airbnb by 174.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,866,431 shares of the company’s stock worth $245,268,000 after purchasing an additional 1,185,892 shares during the period. Edgewood Management LLC boosted its holdings in shares of Airbnb by 9.2% in the 3rd quarter. Edgewood Management LLC now owns 13,582,433 shares of the company’s stock worth $1,722,388,000 after purchasing an additional 1,143,464 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Airbnb by 19,430.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,479 shares of the company’s stock worth $1,419,610,000 after purchasing an additional 1,113,747 shares during the period. 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.