Airbnb (NASDAQ:ABNB) Raised to “Buy” at Mizuho

Mizuho upgraded shares of Airbnb (NASDAQ:ABNB) from a neutral rating to a buy rating in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have $200.00 price objective on the stock, up from their prior price objective of $150.00.

ABNB has been the topic of a number of other reports. Wells Fargo & Company boosted their price target on shares of Airbnb from $107.00 to $127.00 and gave the company an underweight rating in a research note on Monday, April 1st. Bank of America upped their target price on shares of Airbnb from $155.00 to $168.00 and gave the stock a neutral rating in a research note on Thursday, March 14th. Piper Sandler upped their target price on shares of Airbnb from $136.00 to $145.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. UBS Group cut their target price on shares of Airbnb from $148.00 to $143.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Finally, B. Riley Financial assumed coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They set a neutral rating and a $150.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Airbnb has a consensus rating of Hold and a consensus target price of $149.19.

Airbnb Price Performance

Airbnb stock opened at $164.23 on Wednesday. The company’s 50 day simple moving average is $160.44 and its 200-day simple moving average is $143.51. The company has a market capitalization of $106.27 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. Airbnb has a 1 year low of $103.55 and a 1 year high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. As a group, equities research analysts expect that Airbnb will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the sale, the chief technology officer now owns 146,131 shares in the company, valued at approximately $22,695,605.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Nathan Blecharczyk sold 60,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $146.58, for a total value of $8,794,800.00. Following the completion of the transaction, the insider now owns 473,762 shares in the company, valued at approximately $69,444,033.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the transaction, the chief technology officer now owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Insiders sold a total of 456,274 shares of company stock worth $72,410,859 in the last 90 days. Company insiders own 30.84% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of large investors have recently made changes to their positions in the stock. Miracle Mile Advisors LLC increased its holdings in shares of Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after purchasing an additional 68 shares in the last quarter. Cigna Investments Inc. New increased its holdings in shares of Airbnb by 1.6% in the 1st quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after purchasing an additional 69 shares in the last quarter. Mount Vernon Associates Inc. MD increased its holdings in shares of Airbnb by 1.0% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company’s stock valued at $990,000 after purchasing an additional 75 shares in the last quarter. Cambridge Trust Co. increased its holdings in Airbnb by 10.0% during the 4th quarter. Cambridge Trust Co. now owns 825 shares of the company’s stock valued at $112,000 after acquiring an additional 75 shares in the last quarter. Finally, Waldron Private Wealth LLC increased its holdings in Airbnb by 0.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,171 shares of the company’s stock valued at $2,201,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other 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.