Airbnb (NASDAQ:ABNB) Given “Buy” Rating at Benchmark

Benchmark restated their buy rating on shares of Airbnb (NASDAQ:ABNB) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $155.00 price objective on the stock.

ABNB has been the subject of a number of other reports. Barclays cut their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Susquehanna cut their price objective on Airbnb from $180.00 to $130.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. B. Riley lowered their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. UBS Group raised their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their target price on Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $139.26.

Airbnb Price Performance

NASDAQ ABNB traded down $12.76 during trading on Friday, reaching $134.61. The company’s stock had a trading volume of 19,189,003 shares, compared to its average volume of 4,490,534. The firm has a fifty day moving average of $129.14 and a 200 day moving average of $137.72. Airbnb has a one year low of $110.38 and a one year high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $86.37 billion, a PE ratio of 18.31, a P/E/G ratio of 1.93 and a beta of 1.15.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data 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). Airbnb had a return on equity of 34.74% and a net margin of 46.11%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. Airbnb’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts expect that Airbnb will post 4.17 EPS for the current fiscal year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Joseph Gebbia sold 42,719 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the sale, the director now directly owns 16,472 shares in the company, valued at approximately $2,083,378.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the business’s 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 owns 13,315,912 shares in the company, valued at $1,597,909,440. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 417,806 shares of company stock valued at $51,809,831 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently made changes to their positions in ABNB. Transcendent Capital Group LLC purchased a new stake in shares of Airbnb in the first quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the third quarter valued at approximately $25,000. Hollencrest Capital Management raised its position in Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. New Millennium Group LLC purchased a new stake in Airbnb during the second quarter valued at approximately $28,000. Finally, Cultivar Capital Inc. purchased a new stake in Airbnb during the second quarter valued at approximately $30,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.