Wedbush Reaffirms Outperform Rating for Airbnb (NASDAQ:ABNB)

Wedbush reiterated their outperform rating on shares of Airbnb (NASDAQ:ABNB) in a research note released on Tuesday,RTT News reports. Wedbush currently has a $155.00 price target on the stock.

Several other research firms also recently weighed in on ABNB. Evercore ISI boosted their price target on Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Piper Sandler increased their price target on shares of Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Bank of America lifted their price objective on shares of Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. DA Davidson increased their price objective on shares of Airbnb from $125.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Susquehanna raised their target price on shares of Airbnb from $130.00 to $160.00 and gave the stock a “positive” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.63.

Airbnb Stock Performance

ABNB opened at $130.74 on Tuesday. The firm’s 50-day moving average price is $133.29 and its 200-day moving average price is $130.27. The company has a market cap of $82.89 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. 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.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business posted $2.39 EPS. As a group, equities analysts anticipate that Airbnb will post 3.98 EPS for the current fiscal year.

Insider Activity

In other Airbnb news, insider Nathan Blecharczyk sold 9,603 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the sale, the insider now directly owns 164,850 shares of the company’s stock, valued at $21,466,767. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia sold 214,285 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the transaction, the director now directly owns 10,321 shares in the company, valued at approximately $1,352,876.68. The trade was a 95.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,372,293 shares of company stock worth $181,759,318 over the last ninety days. Corporate insiders own 27.83% of the company’s stock.

Institutional Trading of Airbnb

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Verde Capital Management grew its position in Airbnb by 25.3% in the fourth quarter. Verde Capital Management now owns 21,118 shares of the company’s stock worth $2,775,000 after acquiring an additional 4,269 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Airbnb in the 3rd quarter valued at $34,982,000. Tri Ri Asset Management Corp purchased a new position in shares of Airbnb during the 3rd quarter worth $6,352,000. J.W. Cole Advisors Inc. increased its position in shares of 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 purchasing an additional 2,132 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Airbnb by 40.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 685,817 shares of the company’s stock valued at $90,123,000 after buying an additional 197,558 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.