Airbnb, Inc. (NASDAQ:ABNB) Receives Consensus Recommendation of “Hold” from Analysts

Airbnb, Inc. (NASDAQ:ABNB) has earned an average recommendation of “Hold” from the thirty-three ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $147.40.

Several analysts have issued reports on the company. Citizens Jmp raised Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Wednesday, February 4th. Wells Fargo & Company upped their price objective on Airbnb from $128.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Truist Financial increased their price objective on Airbnb from $104.00 to $107.00 and gave the stock a “sell” rating in a report on Thursday, December 4th. Cantor Fitzgerald set a $121.00 target price on Airbnb in a research note on Friday, February 13th. Finally, Citigroup raised Airbnb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th.

Airbnb Stock Up 3.2%

Shares of ABNB stock opened at $132.59 on Thursday. The firm has a fifty day moving average of $129.19 and a 200-day moving average of $126.76. Airbnb has a 12-month low of $99.88 and a 12-month high of $143.88. The company has a market capitalization of $80.71 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.57 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.10). The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. Airbnb had a net margin of 20.51% and a return on equity of 30.88%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. On average, equities analysts expect that Airbnb will post 4.31 EPS for the current year.

Insider Activity

In related news, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $131.27, for a total value of $7,613,660.00. Following the completion of the transaction, the director owned 286,015 shares of the company’s stock, valued at approximately $37,545,189.05. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $130.00, for a total transaction of $487,500.00. Following the completion of the sale, the chief financial officer owned 402,417 shares in the company, valued at $52,314,210. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 363,510 shares of company stock worth $47,422,070 over the last ninety days. Insiders own 27.91% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently modified their holdings of the business. Fort Washington Investment Advisors Inc. OH increased its position in Airbnb by 3.5% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 962,551 shares of the company’s stock worth $116,873,000 after buying an additional 32,501 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Airbnb by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,925,689 shares of the company’s stock valued at $387,186,000 after buying an additional 31,120 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Airbnb by 15.0% in the third quarter. Sumitomo Life Insurance Co. now owns 66,071 shares of the company’s stock valued at $8,022,000 after buying an additional 8,636 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Airbnb by 18.1% during the 3rd quarter. Cerity Partners LLC now owns 364,824 shares of the company’s stock worth $44,297,000 after acquiring an additional 55,838 shares during the period. Finally, National Pension Service boosted its stake in shares of Airbnb by 1.1% during the 3rd quarter. National Pension Service now owns 1,096,411 shares of the company’s stock worth $133,126,000 after acquiring an additional 12,453 shares during the period. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.