Airbnb (NASDAQ:ABNB) Rating Lowered to Market Perform at JMP Securities

Airbnb (NASDAQ:ABNB – Get Rating) was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Marketbeat.com reports.

ABNB has been the topic of a number of other reports. Susquehanna Bancshares cut their price objective on Airbnb from $235.00 to $190.00 in a report on Thursday, May 5th. UBS Group raised their target price on Airbnb from $178.00 to $185.00 in a report on Wednesday, May 4th. Credit Suisse Group raised their target price on Airbnb from $185.00 to $190.00 in a report on Wednesday, May 4th. Citigroup upgraded Airbnb from a “neutral” rating to a “buy” rating and dropped their target price for the company from $214.00 to $200.00 in a report on Wednesday, April 20th. Finally, Susquehanna dropped their target price on Airbnb from $235.00 to $190.00 in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $190.13.

Airbnb stock opened at $95.72 on Wednesday. The stock’s 50-day moving average is $125.93 and its 200-day moving average is $149.91. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 82.52 and a beta of 0.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.61 and a quick ratio of 1.61. Airbnb has a 12 month low of $92.09 and a 12 month high of $212.58.

Airbnb (NASDAQ:ABNB – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.25. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.45 billion. Airbnb had a return on equity of 18.51% and a net margin of 12.12%. The company’s quarterly revenue was up 70.1% compared to the same quarter last year. During the same period last year, the business posted ($1.75) EPS. Research analysts anticipate that Airbnb will post 1.89 EPS for the current year.

In other news, Director Belinda J. Johnson sold 1,000 shares of the business’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $96.39, for a total value of $96,390.00. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $570,628.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Gebbia sold 15,523 shares of the business’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $165.87, for a total value of $2,574,800.01. The disclosure for this sale can be found here. Insiders have sold a total of 668,934 shares of company stock valued at $91,901,320 in the last 90 days. Insiders own 32.69% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellesley Asset Management bought a new stake in shares of Airbnb in the 1st quarter worth $121,000. Baldwin Brothers LLC MA acquired a new stake in shares of Airbnb during the fourth quarter worth $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Airbnb during the fourth quarter worth $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Airbnb during the fourth quarter worth $26,000. Finally, Elequin Capital LP acquired a new stake in shares of Airbnb during the first quarter worth $27,000. 34.66% of the stock is currently owned by institutional investors.

About Airbnb (Get Rating)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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