Airbnb (NASDAQ:ABNB) Earns Hold Rating from Bank of America

Airbnb (NASDAQ:ABNB)‘s stock had its “hold” rating reiterated by analysts at Bank of America in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $142.00 price objective on the stock, up from their previous price objective of $132.00. Bank of America‘s target price indicates a potential upside of 5.65% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their price objective on shares of Airbnb from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Benchmark reissued a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research report on Monday, August 26th. TD Cowen reduced their price objective on Airbnb from $170.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Airbnb in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price target on Airbnb from $160.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $134.55.

Airbnb Trading Up 1.2 %

ABNB stock opened at $134.40 on Friday. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $86.23 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.83 and a beta of 1.17. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $121.62 and a 200-day simple moving average of $140.95.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter last year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Airbnb will post 4.33 EPS for the current year.

Insider Buying and Selling

In other news, CAO David C. Bernstein sold 1,000 shares of Airbnb stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.88, for a total value of $145,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,043 shares of the company’s stock, valued at approximately $6,424,992.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO David C. Bernstein sold 1,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $145.88, for a total transaction of $145,880.00. Following the sale, the chief accounting officer now directly owns 44,043 shares in the company, valued at approximately $6,424,992.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $148.47, for a total value of $89,082.00. Following the transaction, the chief technology officer now owns 207,574 shares of the company’s stock, valued at $30,818,511.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 563,496 shares of company stock worth $74,262,814 over the last ninety days. 27.83% of the stock is owned by insiders.

Institutional Trading of Airbnb

A number of large investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake in Airbnb by 57.9% during the 1st quarter. Jennison Associates LLC now owns 10,632,035 shares of the company’s stock valued at $1,753,860,000 after acquiring an additional 3,899,179 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Airbnb by 158.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,809,152 shares of the company’s stock valued at $958,279,000 after purchasing an additional 3,558,178 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Airbnb by 19,052.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,693,488 shares of the company’s stock valued at $256,784,000 after purchasing an additional 1,684,646 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in Airbnb in the first quarter worth about $265,292,000. Finally, Swedbank AB bought a new position in Airbnb in the 1st quarter valued at about $175,496,000. Institutional investors and hedge funds 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.