Airbnb’s (ABNB) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Airbnb (NASDAQ:ABNB) in a report released on Wednesday, Benzinga reports.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Airbnb from $127.00 to $129.00 and gave the stock an underweight rating in a report on Tuesday, July 9th. Susquehanna dropped their price target on Airbnb from $180.00 to $130.00 and set a positive rating on the stock in a research note on Wednesday. Piper Sandler reduced their price objective on Airbnb from $155.00 to $125.00 and set a neutral rating for the company in a research report on Wednesday. Morgan Stanley raised their target price on Airbnb from $120.00 to $130.00 and gave the stock an underweight rating in a research report on Tuesday, July 23rd. Finally, Benchmark reaffirmed a buy rating and set a $190.00 price target on shares of Airbnb in a research report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $137.00.

Airbnb Stock Up 0.4 %

Airbnb stock opened at $115.08 on Wednesday. The firm has a market cap of $74.12 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.67 and a beta of 1.18. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10. The stock has a fifty day simple moving average of $144.45 and a two-hundred day simple moving average of $151.50.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Equities analysts predict that Airbnb will post 4.66 EPS for the current fiscal year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the transaction, the chief technology officer now directly owns 208,174 shares of the company’s stock, valued at $31,833,968.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total transaction of $91,752.00. Following the completion of the transaction, the chief technology officer now owns 208,174 shares in the company, valued at approximately $31,833,968.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 115,385 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $146.08, for a total value of $16,855,440.80. Following the sale, the chief executive officer now directly owns 14,260,457 shares in the company, valued at $2,083,167,558.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 735,492 shares of company stock valued at $109,402,066. 27.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently made changes to their positions in ABNB. DAVENPORT & Co LLC lifted its holdings in shares of Airbnb by 18.4% in the 4th quarter. DAVENPORT & Co LLC now owns 2,324 shares of the company’s stock valued at $316,000 after acquiring an additional 361 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Airbnb by 2.4% in the 4th quarter. Bleakley Financial Group LLC now owns 7,364 shares of the company’s stock worth $1,003,000 after purchasing an additional 173 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Airbnb by 21.6% in the 4th quarter. Valley National Advisers Inc. now owns 908 shares of the company’s stock worth $123,000 after purchasing an additional 161 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Airbnb by 2.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 57,318 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Airbnb during the 4th quarter valued at $62,000. 80.76% of the stock is 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.