Wedbush Reiterates “Neutral” Rating for Airbnb (NASDAQ:ABNB)

Wedbush reissued their neutral rating on shares of Airbnb (NASDAQ:ABNB) in a report published on Thursday, Benzinga reports. The brokerage currently has a $160.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Airbnb from $140.00 to $150.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. UBS Group reduced their target price on Airbnb from $148.00 to $143.00 and set a neutral rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on Airbnb from $118.00 to $140.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Truist Financial raised their target price on Airbnb from $118.00 to $131.00 and gave the company a hold rating in a research note on Thursday, March 14th. Finally, Mizuho upped their price target on Airbnb from $130.00 to $150.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $147.58.

Airbnb Price Performance

Shares of ABNB stock opened at $160.10 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. Airbnb has a fifty-two week low of $103.55 and a fifty-two week high of $170.10. The firm has a market cap of $103.60 billion, a P/E ratio of 22.11, a P/E/G ratio of 2.01 and a beta of 1.25. The business’s 50 day moving average price is $159.40 and its 200-day moving average price is $142.09.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. On average, equities research analysts anticipate that Airbnb will post 4.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $155.83, for a total transaction of $93,498.00. Following the transaction, the chief technology officer now directly owns 221,704 shares of the company’s stock, valued at approximately $34,548,134.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Aristotle N. Balogh sold 78,682 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the transaction, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $155.83, for a total transaction of $93,498.00. Following the sale, the chief technology officer now owns 221,704 shares of the company’s stock, valued at $34,548,134.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 475,414 shares of company stock valued at $75,187,257. Company insiders own 30.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CVA Family Office LLC purchased a new stake in shares of Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC bought a new stake in Airbnb during the third quarter valued at about $27,000. Bfsg LLC purchased a new stake in Airbnb in the fourth quarter worth about $27,000. Trust Co. of Vermont bought a new position in shares of Airbnb in the fourth quarter worth about $27,000. Finally, West Tower Group LLC lifted its position in shares of Airbnb by 747.8% during the 4th quarter. West Tower Group LLC now owns 195 shares of the company’s stock valued at $27,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors 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.