Airbnb (NASDAQ:ABNB) Sets New 52-Week High – Time to Buy?

Airbnb, Inc. (NASDAQ:ABNB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $147.27 and last traded at $145.69, with a volume of 1339180 shares trading hands. The stock had previously closed at $138.85.

Analysts Set New Price Targets

ABNB has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Airbnb in a research note on Friday, May 22nd. Citigroup restated an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. HSBC lowered shares of Airbnb from a “hold” rating to a “hold” rating in a research report on Monday, May 4th. Rodman & Renshaw initiated coverage on shares of Airbnb in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald raised shares of Airbnb from a “neutral” rating to an “overweight” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Airbnb currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.96.

Airbnb Price Performance

The stock has a market cap of $85.51 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $137.20 and its two-hundred day simple moving average is $132.76.

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

Insider Activity at Airbnb

In other Airbnb news, CEO Brian Chesky sold 265,746 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $132.22, for a total transaction of $35,136,936.12. Following the sale, the chief executive officer owned 11,206,389 shares in the company, valued at $1,481,708,753.58. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 265,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $135.45, for a total value of $35,894,250.00. Following the sale, the director owned 3,182,355 shares in the company, valued at approximately $431,049,984.75. This represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,914,860 shares of company stock worth $259,869,869. Corporate insiders own 27.21% of the company’s stock.

Institutional Trading of Airbnb

A number of institutional investors have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI increased its position in shares of Airbnb by 1.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after buying an additional 76 shares during the period. Patton Fund Management Inc. lifted its holdings in shares of Airbnb by 4.3% in the fourth quarter. Patton Fund Management Inc. now owns 1,874 shares of the company’s stock worth $254,000 after buying an additional 77 shares in the last quarter. BOKF NA boosted its position in shares of Airbnb by 11.0% in the fourth quarter. BOKF NA now owns 787 shares of the company’s stock valued at $107,000 after acquiring an additional 78 shares during the period. Yoder Wealth Management Inc. boosted its position in shares of Airbnb by 0.3% in the fourth quarter. Yoder Wealth Management Inc. now owns 26,389 shares of the company’s stock valued at $3,582,000 after acquiring an additional 84 shares during the period. Finally, Private Advisor Group LLC grew its stake in Airbnb by 1.0% during the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

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.