Airbnb (NASDAQ:ABNB) Receives “Neutral” Rating from Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $152.00 price target on the stock. Wedbush’s price target suggests a potential upside of 2.44% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald upgraded Airbnb from a “neutral” rating to an “overweight” rating in a research note on Monday, May 4th. Susquehanna lifted their price target on shares of Airbnb from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Airbnb from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. UBS Group increased their price objective on shares of Airbnb from $153.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Airbnb in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.84.

Airbnb Stock Up 1.3%

Shares of NASDAQ:ABNB opened at $148.38 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Airbnb has a 52-week low of $110.81 and a 52-week high of $150.75. The company has a 50 day moving average of $138.89 and a two-hundred day moving average of $134.26. The company has a market capitalization of $89.43 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.62 billion. Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, analysts forecast that Airbnb will post 4.91 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In related news, insider Nathan Blecharczyk sold 13,615 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $148.37, for a total transaction of $2,020,057.55. Following the sale, the insider directly owned 81,677 shares of the company’s stock, valued at approximately $12,118,416.49. This represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth I. Chenault sold 8,346 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the sale, the director owned 40,879 shares of the company’s stock, valued at approximately $6,131,850. The trade was a 16.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,325,429 shares of company stock valued at $321,925,435. 27.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently bought and sold shares of ABNB. Regent Peak Wealth Advisors LLC acquired a new position in Airbnb in the second quarter valued at approximately $284,000. Family Wealth Partners LLC raised its position in shares of Airbnb by 5.9% during the 2nd quarter. Family Wealth Partners LLC now owns 2,324 shares of the company’s stock worth $333,000 after purchasing an additional 130 shares during the period. Tema ETFs LLC lifted its holdings in shares of Airbnb by 8.9% in the 2nd quarter. Tema ETFs LLC now owns 7,062 shares of the company’s stock worth $1,011,000 after purchasing an additional 580 shares during the last quarter. Chemistry Wealth Management LLC lifted its holdings in shares of Airbnb by 3.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 29,453 shares of the company’s stock worth $4,215,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Airbnb by 16.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,076 shares of the company’s stock valued at $869,000 after purchasing an additional 875 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

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.