Airbnb (NASDAQ:ABNB) Stock Rating Upgraded by Truist Financial

Airbnb (NASDAQ:ABNB) was upgraded by Truist Financial from a “sell” rating to a “hold” rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a $129.00 target price on the stock, up from their prior target price of $107.00. Truist Financial’s target price suggests a potential downside of 2.13% from the stock’s previous close.

ABNB has been the topic of a number of other reports. Benchmark reduced their price objective on Airbnb from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. UBS Group lifted their price target on Airbnb from $147.00 to $149.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Citigroup raised Airbnb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft raised shares of Airbnb from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Friday, February 13th. Finally, Barclays increased their price target on shares of Airbnb from $120.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $147.79.

Airbnb Price Performance

Shares of NASDAQ ABNB opened at $131.81 on Thursday. Airbnb has a one year low of $99.88 and a one year high of $143.88. The firm’s 50 day simple moving average is $128.97 and its two-hundred day simple moving average is $126.84. The stock has a market capitalization of $80.23 billion, a P/E ratio of 32.63, a PEG ratio of 1.59 and a beta of 1.12.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $130.00, for a total transaction of $487,500.00. Following the sale, the chief financial officer directly owned 402,417 shares of the company’s stock, valued at approximately $52,314,210. The trade was a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $132.51, for a total value of $7,685,580.00. Following the completion of the transaction, the director directly owned 228,015 shares of the company’s stock, valued at $30,214,267.65. This represents a 20.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 421,510 shares of company stock worth $55,107,650 over the last three months. Company insiders own 27.91% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Transamerica Financial Advisors LLC grew its holdings in Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after purchasing an additional 112 shares during the period. ORG Partners LLC grew its stake in shares of Airbnb by 97.0% in the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Entrust Financial LLC bought a new position in Airbnb during the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Airbnb during the third quarter valued at $25,000. Finally, Aventura Private Wealth LLC purchased a new position in Airbnb during the fourth quarter valued at $29,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.