Airbnb’s (ABNB) “Buy” Rating Reiterated at DA Davidson

Airbnb (NASDAQ:ABNB)‘s stock had its “buy” rating reissued by DA Davidson in a report released on Friday,Benzinga reports. They presently have a $155.00 price target on the stock. DA Davidson’s target price suggests a potential upside of 25.23% from the company’s previous close.

Several other analysts have also recently issued reports on ABNB. Citizens Jmp raised shares of Airbnb to a “hold” rating in a research note on Monday, August 11th. BTIG Research reaffirmed a “neutral” rating on shares of Airbnb in a report on Friday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a $165.00 target price on shares of Airbnb in a report on Friday. Truist Financial lifted their target price on Airbnb from $104.00 to $107.00 and gave the company a “sell” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on Airbnb from $111.00 to $118.00 and gave the company an “underweight” rating in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Airbnb presently has a consensus rating of “Hold” and an average target price of $143.88.

Airbnb Stock Performance

Shares of ABNB traded up $2.95 during trading hours on Friday, hitting $123.77. 2,048,104 shares of the stock were exchanged, compared to its average volume of 5,163,580. The stock’s 50-day moving average price is $121.52 and its two-hundred day moving average price is $127.57. Airbnb has a 12-month low of $99.88 and a 12-month high of $163.93. The company has a market cap of $76.19 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 6th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.10). Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm earned $2.13 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts expect that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other news, CFO Elinor Mertz sold 12,184 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $127.65, for a total transaction of $1,555,287.60. Following the completion of the sale, the chief financial officer owned 444,070 shares in the company, valued at approximately $56,685,535.50. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 236,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $120.76, for a total value of $28,499,360.00. Following the completion of the transaction, the director owned 1,176,015 shares in the company, valued at $142,015,571.40. This trade represents a 16.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,498,340 shares of company stock worth $181,532,210. 27.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Institutional investors have recently bought and sold shares of the company. Harris Associates L P increased its stake in shares of Airbnb by 86.0% during the first quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock worth $1,188,024,000 after acquiring an additional 4,598,125 shares during the period. Independent Franchise Partners LLP acquired a new position in Airbnb during the 3rd quarter worth approximately $505,672,000. Norges Bank purchased a new position in shares of Airbnb during the 2nd quarter worth approximately $483,644,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Airbnb by 453.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock valued at $403,782,000 after buying an additional 2,724,682 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after buying an additional 1,916,676 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Company Profile

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.