Airbnb (NASDAQ:ABNB) Receives “Hold” Rating from Needham & Company LLC

Airbnb (NASDAQ:ABNB)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

A number of other research firms also recently commented on ABNB. Piper Sandler reaffirmed a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a report on Thursday. BMO Capital Markets upped their price target on shares of Airbnb from $135.00 to $151.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Airbnb from $118.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. B. Riley Financial assumed coverage on Airbnb in a research note on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price for the company. Finally, TD Cowen decreased their price objective on Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $151.91.

Airbnb Trading Down 6.9 %

ABNB stock traded down $10.85 during midday trading on Thursday, hitting $147.05. The stock had a trading volume of 14,791,206 shares, compared to its average volume of 4,584,189. Airbnb has a 12-month low of $103.55 and a 12-month high of $170.10. The company’s 50-day moving average price is $161.68 and its 200 day moving average price is $145.50. The firm has a market cap of $95.15 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. On average, equities research analysts predict that Airbnb will post 4.47 earnings per share for the current fiscal year.

Insider Activity

In other Airbnb news, CEO Brian Chesky sold 76,912 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total value of $11,366,824.48. Following the sale, the chief executive officer now directly owns 14,545,529 shares of the company’s stock, valued at $2,149,683,730.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Aristotle N. Balogh sold 78,682 shares of the firm’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 in the company, valued at approximately $24,435,238.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Chesky sold 76,912 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total transaction of $11,366,824.48. Following the sale, the chief executive officer now directly owns 14,545,529 shares of the company’s stock, valued at approximately $2,149,683,730.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,874 shares of company stock valued at $63,712,671. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC bought a new position in Airbnb in the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of Airbnb during the 3rd quarter valued at $27,000. Bfsg LLC acquired a new stake in shares of Airbnb in the 4th quarter worth $27,000. Trust Co. of Vermont purchased a new position in shares of Airbnb in the fourth quarter worth $27,000. Finally, Vima LLC purchased a new position in Airbnb in the 4th quarter worth $29,000. Hedge funds and other institutional investors 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.