Phillip Securities Reiterates “Reduce” Rating for Airbnb (NASDAQ:ABNB)

Airbnb (NASDAQ:ABNB)‘s stock had its “reduce” rating restated by stock analysts at Phillip Securities in a report issued on Tuesday,Benzinga reports. They presently have a $120.00 price target on the stock. Phillip Securities’ price target would suggest a potential downside of 12.66% from the stock’s current price.

Several other research firms also recently weighed in on ABNB. Robert W. Baird raised their target price on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup boosted their target price on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Raymond James started coverage on shares of Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 target price on the stock. Finally, Susquehanna upped their price target on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a research note on Monday. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Airbnb currently has a consensus rating of “Hold” and a consensus price target of $139.31.

Airbnb Price Performance

ABNB stock opened at $137.40 on Tuesday. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $129.54 and a 200 day moving average price of $137.20. The stock has a market cap of $88.16 billion, a PE ratio of 48.21, a P/E/G ratio of 1.90 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 33.36%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the firm earned $2.39 EPS. Equities research analysts anticipate that Airbnb will post 4.07 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the transaction, the chief technology officer now owns 192,244 shares in the company, valued at approximately $26,016,380.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,259,958.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the completion of the transaction, the chief technology officer now directly owns 192,244 shares in the company, valued at approximately $26,016,380.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 417,806 shares of company stock worth $51,809,831. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in shares of Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after acquiring an additional 5,962 shares during the last quarter. NorthRock Partners LLC purchased a new stake in Airbnb in the first quarter worth approximately $210,000. Avantax Advisory Services Inc. boosted its holdings in Airbnb by 19.9% in the first quarter. Avantax Advisory Services Inc. now owns 4,416 shares of the company’s stock worth $728,000 after purchasing an additional 732 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Airbnb by 12.0% in the first quarter. Bleakley Financial Group LLC now owns 8,250 shares of the company’s stock worth $1,361,000 after purchasing an additional 886 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Airbnb during the 1st quarter valued at $235,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.