Airbnb (NASDAQ:ABNB) Upgraded to “Buy” at HSBC

Airbnb (NASDAQ:ABNB) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

A number of other research firms have also recently commented on ABNB. Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group upgraded Airbnb from a “sell” rating to a “neutral” rating and lifted their price target for the company from $110.00 to $153.00 in a report on Friday. Evercore ISI lifted their price target on Airbnb to $155.00 and gave the company a “hold” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lifted their price target on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Five analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $143.55.

Airbnb Trading Up 0.4 %

Shares of ABNB stock opened at $141.04 on Friday. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The stock has a market cap of $89.42 billion, a P/E ratio of 49.49, a P/E/G ratio of 1.88 and a beta of 1.12. The business has a fifty day simple moving average of $133.00 and a 200-day simple moving average of $130.02. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.12. Airbnb had a return on equity of 32.88% and a net margin of 16.96%. On average, analysts forecast that Airbnb will post 3.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Aristotle N. Balogh sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $128.15, for a total value of $89,705.00. Following the completion of the sale, the chief technology officer now directly owns 182,614 shares in the company, valued at approximately $23,401,984.10. The trade was a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $129.58, for a total value of $809,875.00. Following the transaction, the chief financial officer now owns 484,988 shares of the company’s stock, valued at approximately $62,844,745.04. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,417,704 shares of company stock valued at $187,654,829. Corporate insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Verde Capital Management grew its stake in Airbnb by 25.3% during the 4th quarter. Verde Capital Management now owns 21,118 shares of the company’s stock worth $2,775,000 after buying an additional 4,269 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Airbnb during the 3rd quarter worth $34,982,000. Tri Ri Asset Management Corp acquired a new position in Airbnb during the 3rd quarter worth $6,352,000. J.W. Cole Advisors Inc. boosted its position in Airbnb by 86.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock worth $583,000 after acquiring an additional 2,132 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Airbnb by 40.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock worth $90,123,000 after acquiring an additional 197,558 shares during the period. 80.76% of the stock is currently owned by institutional investors.

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.