Airbnb (NASDAQ:ABNB) Receives “Buy” Rating from Benchmark

Airbnb (NASDAQ:ABNB)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research note issued on Friday,Benzinga reports. They currently have a $155.00 price target on the stock. Benchmark’s target price indicates a potential upside of 13.40% from the stock’s previous close.

A number of other brokerages also recently issued reports on ABNB. BMO Capital Markets lowered their price target on shares of Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Airbnb from $145.00 to $121.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Airbnb in a research report on Wednesday, August 7th. Mizuho decreased their price target on shares of Airbnb from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Finally, UBS Group lifted their price objective on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $136.65.

Airbnb Stock Performance

ABNB traded down $10.68 on Friday, hitting $136.69. The company’s stock had a trading volume of 4,115,778 shares, compared to its average volume of 4,410,830. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company’s 50 day simple moving average is $128.79 and its 200-day simple moving average is $137.88. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market cap of $87.70 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 1.93 and a beta of 1.15.

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). The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. Analysts forecast that Airbnb will post 4.17 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now directly owns 16,472 shares in the company, valued at $2,083,378.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Airbnb news, CFO Elinor Mertz sold 6,250 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 42,719 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the sale, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds have recently bought and sold shares of the company. Csenge Advisory Group bought a new stake in shares of Airbnb in the 1st quarter worth $303,000. Empirical Finance LLC bought a new stake in Airbnb in the 1st quarter worth about $339,000. Envestnet Portfolio Solutions Inc. increased its holdings in Airbnb by 45.7% in the 1st 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 in the last quarter. Empowered Funds LLC raised its position in Airbnb by 138.4% in the 1st quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock worth $1,694,000 after buying an additional 5,962 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Airbnb by 12.6% during the 1st 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 period. Institutional investors own 80.76% of the company’s stock.

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.