Airbnb’s (ABNB) “Reduce” Rating Reiterated at Phillip Securities

Phillip Securities restated their reduce rating on shares of Airbnb (NASDAQ:ABNB) in a research note published on Tuesday,Benzinga reports. They currently have a $120.00 price target on the stock.

Several other research analysts have also commented on the company. Wells Fargo & Company lifted their target price on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on Airbnb from $150.00 to $120.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Wedbush lifted their target price on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen lifted their target price on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler lifted their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Airbnb has an average rating of “Hold” and an average price target of $139.31.

Airbnb Price Performance

ABNB stock opened at $134.56 on Tuesday. 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 has a 52-week low of $110.38 and a 52-week high of $170.10. The stock’s 50 day moving average is $130.25 and its two-hundred day moving average is $136.96. The company has a market capitalization of $86.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.88 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Analysts predict that Airbnb will post 4.04 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 11,635 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $137.20, for a total transaction of $1,596,322.00. Following the sale, the director now directly owns 16,472 shares of the company’s stock, valued at $2,259,958.40. The trade was a 41.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,806 shares of company stock valued at $51,809,831. Corporate insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Institutional investors and hedge funds have recently modified their holdings of the stock. Shellback Capital LP acquired a new stake in shares of Airbnb during the second quarter worth $22,744,000. J.W. Cole Advisors Inc. raised its position in Airbnb by 86.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after buying an additional 2,132 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in Airbnb by 1,231.3% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after buying an additional 19,183 shares during the period. Vanguard Group Inc. raised its position in Airbnb by 2.4% during the first quarter. Vanguard Group Inc. now owns 34,324,465 shares of the company’s stock valued at $5,662,164,000 after buying an additional 791,149 shares during the period. Finally, Empowered Funds LLC raised its position in Airbnb by 138.4% during the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after buying an additional 5,962 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

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.