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

Airbnb (NASDAQ:ABNB)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports.

A number of other research firms have also recently commented on ABNB. UBS Group upped their price target on shares of Airbnb from $143.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Airbnb from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Citigroup decreased their price target on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research report on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.00.

Airbnb Stock Up 1.4 %

Shares of NASDAQ ABNB opened at $114.64 on Wednesday. Airbnb has a 1 year low of $110.38 and a 1 year high of $170.10. The firm has a 50-day simple moving average of $145.04 and a two-hundred day simple moving average of $151.62. The company has a market cap of $73.83 billion, a P/E ratio of 15.35, a PEG ratio of 1.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.44.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. Airbnb’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. Research analysts anticipate that Airbnb will post 4.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $126.57, for a total transaction of $75,942.00. Following the sale, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at $26,044,815.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Joseph Gebbia sold 44,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now owns 46,467 shares in the company, valued at $6,971,908.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $126.57, for a total transaction of $75,942.00. Following the transaction, the chief technology officer now directly owns 205,774 shares of the company’s stock, valued at $26,044,815.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 735,492 shares of company stock valued at $109,402,066. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CHURCHILL MANAGEMENT Corp acquired a new stake in Airbnb during the 1st quarter worth about $7,628,000. Rafferty Asset Management LLC boosted its stake in shares of Airbnb by 18.4% in the fourth quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after buying an additional 22,551 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Airbnb during the fourth quarter worth about $726,000. Cerity Partners LLC raised its position in Airbnb by 14.4% during the fourth quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after acquiring an additional 12,008 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in Airbnb by 17.2% in the 1st quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock worth $1,107,000 after purchasing an additional 985 shares in the last quarter. 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.