Airbnb (NASDAQ:ABNB) Now Covered by Raymond James

Stock analysts at Raymond James started coverage on shares of Airbnb (NASDAQ:ABNB) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $134.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 4.48% from the stock’s current price.

ABNB has been the subject of a number of other reports. Benchmark reissued a “buy” rating and issued a $155.00 target price on shares of Airbnb in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered their price target on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Airbnb from $145.00 to $121.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price target on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, Barclays lowered their price target on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $134.16.

Airbnb Trading Down 0.8 %

ABNB stock opened at $128.25 on Friday. The firm has a fifty day moving average price of $123.75 and a 200 day moving average price of $143.42. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $82.60 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts anticipate that Airbnb will post 4.39 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In related news, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $152.92, for a total value of $91,752.00. Following the transaction, the chief technology officer now owns 208,174 shares in the company, valued at $31,833,968.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 230,769 shares of Airbnb stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at approximately $1,597,909,440. The disclosure for this sale can be found here. Insiders sold 552,989 shares of company stock worth $75,824,030 over the last three months. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABNB. Focus Financial Network Inc. ADV purchased a new stake in shares of Airbnb during the fourth quarter worth about $218,000. Catalytic Wealth RIA LLC purchased a new stake in shares of Airbnb during the fourth quarter worth about $208,000. Draper Asset Management LLC grew its stake in shares of Airbnb by 49.8% during the fourth quarter. Draper Asset Management LLC now owns 5,379 shares of the company’s stock worth $732,000 after acquiring an additional 1,789 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Airbnb by 20.8% during the fourth quarter. Edgewood Management LLC now owns 12,417,777 shares of the company’s stock worth $1,690,556,000 after acquiring an additional 2,135,529 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Airbnb by 4.5% during the fourth quarter. California State Teachers Retirement System now owns 689,770 shares of the company’s stock worth $93,905,000 after acquiring an additional 29,615 shares during 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.