Wedbush Reiterates Neutral Rating for Airbnb (NASDAQ:ABNB)

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Thursday, Benzinga reports. They currently have a $160.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 3.22% from the stock’s current price.

ABNB has been the subject of a number of other reports. B. Riley started coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 price target for the company. BMO Capital Markets increased their target price on shares of Airbnb from $134.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. DA Davidson reissued a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research note on Friday, March 15th. Truist Financial upped their price target on shares of Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Finally, Piper Sandler boosted their target price on Airbnb from $136.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average price target of $147.58.

Airbnb Trading Down 3.2 %

Airbnb stock opened at $155.01 on Thursday. The company has a 50 day moving average price of $159.55 and a 200 day moving average price of $142.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10. The firm has a market capitalization of $100.30 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.03 and a beta of 1.25.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Tuesday, February 13th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. Research analysts forecast that Airbnb will post 4.63 EPS for the current year.

Insider Activity at Airbnb

In other news, insider Nathan Blecharczyk sold 8,580 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $142.32, for a total transaction of $1,221,105.60. Following the sale, the insider now directly owns 533,762 shares in the company, valued at $75,965,007.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Nathan Blecharczyk sold 8,580 shares of Airbnb stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $142.32, for a total transaction of $1,221,105.60. Following the sale, the insider now directly owns 533,762 shares in the company, valued at approximately $75,965,007.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Chesky sold 3,160 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $142.29, for a total transaction of $449,636.40. Following the completion of the sale, the chief executive officer now directly owns 14,930,137 shares in the company, valued at approximately $2,124,409,193.73. The disclosure for this sale can be found here. Insiders have sold 475,414 shares of company stock worth $75,187,257 over the last three months. Company insiders own 30.84% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compagnie Lombard Odier SCmA raised its stake in Airbnb by 34.7% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 31,612 shares of the company’s stock worth $4,304,000 after acquiring an additional 8,140 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Airbnb by 4.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,221 shares of the company’s stock worth $1,119,000 after purchasing an additional 333 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Airbnb by 27.5% during the 4th quarter. Nordea Investment Management AB now owns 1,268,390 shares of the company’s stock worth $172,742,000 after purchasing an additional 273,191 shares in the last quarter. LGT Group Foundation increased its position in shares of Airbnb by 8.1% during the 3rd quarter. LGT Group Foundation now owns 316,545 shares of the company’s stock worth $43,227,000 after purchasing an additional 23,716 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Airbnb by 14.4% during the 4th quarter. Cerity Partners LLC now owns 95,572 shares of the company’s stock valued at $13,011,000 after purchasing an additional 12,008 shares during the last quarter. 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.