Airbnb (NASDAQ:ABNB) Reaches New 1-Year High – Time to Buy?

Shares of Airbnb, Inc. (NASDAQ:ABNB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $188.13 and last traded at $188.3660, with a volume of 750126 shares. The stock had previously closed at $183.25.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial upped their price objective on Airbnb from $129.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, June 12th. Evercore reiterated an “outperform” rating and set a $190.00 target price on shares of Airbnb in a research report on Friday, August 7th. The Goldman Sachs Group set a $170.00 target price on shares of Airbnb in a research note on Tuesday, July 28th. Susquehanna upped their price target on shares of Airbnb from $170.00 to $200.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Finally, Citigroup raised their price target on shares of Airbnb from $175.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.00.

Airbnb Stock Performance

The company has a market cap of $112.17 billion, a P/E ratio of 42.61, a PEG ratio of 2.13 and a beta of 1.14. The firm has a 50 day moving average of $150.83 and a 200-day moving average of $138.38. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the company posted $1.03 EPS. Airbnb’s revenue was up 16.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph Gebbia sold 294,903 shares of Airbnb stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $148.43, for a total value of $43,772,452.29. Following the completion of the sale, the director directly owned 2,622,452 shares in the company, valued at $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 531,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $174.41, for a total transaction of $92,611,710.00. Following the completion of the sale, the insider directly owned 171,370 shares of the company’s stock, valued at approximately $29,888,641.70. This trade represents a 75.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,107,936 shares of company stock worth $458,993,808. Company insiders own 27.21% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI increased its stake in Airbnb by 1.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,754 shares of the company’s stock valued at $727,000 after acquiring an additional 76 shares during the period. BOKF NA lifted its stake in Airbnb by 11.0% during the fourth quarter. BOKF NA now owns 787 shares of the company’s stock worth $107,000 after purchasing an additional 78 shares during the period. Private Advisor Group LLC boosted its holdings in Airbnb by 1.0% during the third quarter. Private Advisor Group LLC now owns 8,295 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86 shares in the last quarter. FSB Premier Wealth Management Inc. grew its stake in shares of Airbnb by 3.4% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,692 shares of the company’s stock valued at $365,000 after purchasing an additional 89 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Airbnb by 3.0% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 3,085 shares of the company’s stock worth $441,000 after buying an additional 90 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.