Airbnb (NASDAQ:ABNB) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Airbnb (NASDAQ:ABNB) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set a “sector weight” rating on the stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Airbnb from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Zacks Research raised Airbnb to a “hold” rating in a research note on Tuesday, August 12th. Barclays set a $105.00 target price on Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Morgan Stanley cut their target price on Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Finally, Wedbush lowered their price objective on Airbnb from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $141.81.

Airbnb Stock Down 0.8%

Shares of ABNB opened at $127.50 on Thursday. The business’s 50-day moving average price is $124.36 and its 200-day moving average price is $127.54. Airbnb has a twelve month low of $99.88 and a twelve month high of $163.93. The stock has a market cap of $79.23 billion, a PE ratio of 30.87, a P/E/G ratio of 2.35 and a beta of 1.10.

Airbnb (NASDAQ:ABNB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Analysts expect that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $120.46, for a total transaction of $72,276.00. Following the completion of the transaction, the chief technology officer owned 197,806 shares in the company, valued at $23,827,710.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 4,630 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at approximately $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,425,876 shares of company stock worth $177,336,982 in the last ninety days. Insiders own 27.91% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Airbnb by 0.5% in the second quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock worth $4,982,067,000 after purchasing an additional 183,336 shares in the last quarter. Harris Associates L P raised its holdings in Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock worth $1,884,168,000 after purchasing an additional 4,292,383 shares in the last quarter. Geode Capital Management LLC raised its holdings in Airbnb by 1.5% in the second quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock worth $1,314,057,000 after purchasing an additional 145,788 shares in the last quarter. Northern Trust Corp raised its holdings in Airbnb by 2.5% in the first quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after purchasing an additional 106,135 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Airbnb by 81.0% in the first quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Institutional investors own 80.76% of the company’s stock.

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.