Airbnb (NASDAQ:ABNB) Stock Rating Upgraded by TD Cowen

Airbnb (NASDAQ:ABNB) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a report issued on Monday, Zacks reports.

A number of other analysts also recently issued reports on ABNB. Royal Bank Of Canada set a $165.00 price target on Airbnb in a report on Monday, August 10th. Weiss Ratings upgraded Airbnb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Benchmark increased their price objective on Airbnb from $160.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird raised their target price on Airbnb from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. Finally, Truist Financial boosted their target price on Airbnb from $134.00 to $161.00 and gave the stock a “hold” rating in a research note on Thursday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.42.

Airbnb Trading Down 0.5%

Shares of NASDAQ:ABNB opened at $167.51 on Monday. Airbnb has a 52 week low of $110.81 and a 52 week high of $193.45. The company’s 50 day moving average is $166.94 and its two-hundred day moving average is $146.59. The company has a market cap of $100.30 billion, a PE ratio of 38.07, a P/E/G ratio of 1.94 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. Equities analysts predict that Airbnb will post 5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nathan Blecharczyk sold 531,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the sale, the insider directly owned 171,370 shares of the company’s stock, valued at approximately $29,888,641.70. The trade was a 75.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Chesky sold 200,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $174.79, for a total value of $34,958,000.00. Following the completion of the sale, the chief executive officer directly owned 10,501,685 shares of the company’s stock, valued at approximately $1,835,589,521.15. This trade represents a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,006,561 shares of company stock valued at $336,375,433. 27.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Airbnb in the 4th quarter valued at $480,332,000. Jennison Associates LLC lifted its stake in shares of Airbnb by 9,331.0% in the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock worth $400,681,000 after acquiring an additional 3,139,315 shares during the period. Wellington Management Group LLP lifted its stake in shares of Airbnb by 80.6% in the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock worth $827,929,000 after acquiring an additional 2,581,539 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Airbnb in the second quarter valued at about $330,085,000. Finally, MKA Charitable Fund purchased a new stake in shares of Airbnb in the second quarter valued at about $232,515,606. Institutional investors and hedge funds own 80.76% of the company’s stock.

Trending Headlines about Airbnb

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb is committing an initial $250 million to affordable and mixed-income housing projects, aiming to unlock up to $5 billion in investment over the next decade. The first $6.4 million investment will support 201 affordable units in Austin, Texas. The program may help address criticism that short-term rentals worsen housing affordability and could reduce regulatory pressure over time. Airbnb affordable housing fund article
• Positive Sentiment: The housing accelerator will begin in Austin and combine project financing with support for pro-housing policies, zoning reform and construction technology. Investors may view this as a potential long-term competitive and regulatory advantage, although the financial returns are not yet established. Airbnb Austin housing accelerator article
• Neutral Sentiment: Truist Financial maintained its Hold rating on ABNB, signaling that the analyst sees limited conviction for a material near-term move higher. Broader analyst commentary on consumer-cyclical companies also provides no clear bullish catalyst for Airbnb. Truist Airbnb Hold rating
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.35 million, reducing his position by 39.8%. While insider sales can reflect diversification or planned transactions, the sale may weigh on sentiment because it represents a substantial reduction in his holdings. Nathan Blecharczyk insider transaction

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.