Airbnb (NASDAQ:ABNB) Raised to “Buy” at Mizuho

Mizuho upgraded shares of Airbnb (NASDAQ:ABNB) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has $200.00 price objective on the stock, up from their prior price objective of $150.00.

Other analysts have also recently issued research reports about the company. Tigress Financial increased their target price on Airbnb from $185.00 to $195.00 and gave the stock a buy rating in a report on Friday, April 5th. Truist Financial increased 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. Piper Sandler increased their target price on Airbnb from $136.00 to $145.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Benchmark initiated coverage on Airbnb in a research report on Thursday, April 11th. They set a buy rating and a $190.00 price target on the stock. Finally, Needham & Company LLC reissued a hold rating on shares of Airbnb in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $149.19.

Airbnb Stock Performance

Shares of NASDAQ ABNB opened at $164.23 on Wednesday. The business has a fifty day simple moving average of $160.44 and a 200 day simple moving average of $143.51. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $106.27 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.17 and a beta of 1.25. Airbnb has a one year low of $103.55 and a one year high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. Sell-side analysts expect that Airbnb will post 4.47 EPS for the current year.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 78,682 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the transaction, the chief technology officer now directly owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 78,682 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was 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 directly owns 144,331 shares of the company’s stock, valued at approximately $24,435,238.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,912 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total value of $11,366,824.48. Following the completion of the transaction, the chief executive officer now directly owns 14,545,529 shares in the company, valued at $2,149,683,730.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 456,274 shares of company stock valued at $72,410,859. 30.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC grew its holdings in Airbnb by 0.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,339 shares of the company’s stock valued at $1,541,000 after buying an additional 68 shares in the last quarter. Cigna Investments Inc. New grew its holdings in Airbnb by 1.6% in the 1st quarter. Cigna Investments Inc. New now owns 4,419 shares of the company’s stock valued at $729,000 after buying an additional 69 shares in the last quarter. Mount Vernon Associates Inc. MD grew its holdings in Airbnb by 1.0% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,270 shares of the company’s stock valued at $990,000 after buying an additional 75 shares in the last quarter. Cambridge Trust Co. lifted its position in shares of Airbnb by 10.0% during the 4th quarter. Cambridge Trust Co. now owns 825 shares of the company’s stock valued at $112,000 after acquiring an additional 75 shares during the period. Finally, Waldron Private Wealth LLC lifted its position in shares of Airbnb by 0.5% during the 4th quarter. Waldron Private Wealth LLC now owns 16,171 shares of the company’s stock valued at $2,201,000 after acquiring an additional 78 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

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.