Airbnb (NASDAQ:ABNB) Shares Break Above 50-Day Moving Average – What’s Next?

Airbnb, Inc. (NASDAQ:ABNB)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $170.06 and traded as high as $173.05. Airbnb shares last traded at $171.11, with a volume of 5,956,749 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Oppenheimer increased their price objective on shares of Airbnb from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. Benchmark raised their price objective on shares of Airbnb from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Raymond James Financial raised shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Tuesday, September 8th. BMO Capital Markets upped their target price on shares of Airbnb from $146.00 to $165.00 and gave the company a “market perform” rating in a research note on Monday, August 10th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $210.00 price target (up from $180.00) on shares of Airbnb in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.43.

Airbnb Trading Up 4.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The business’s fifty day simple moving average is $170.06 and its 200 day simple moving average is $146.83. The stock has a market cap of $102.46 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 1.90 and a beta of 1.24.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, research analysts predict that Airbnb, Inc. will post 5.29 EPS for the current year.

Insider Transactions at Airbnb

In related news, CAO David Bernstein sold 1,369 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $168.01, for a total transaction of $230,005.69. Following the sale, the chief accounting officer owned 45,655 shares in the company, valued at $7,670,496.55. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 13,615 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $170.81, for a total transaction of $2,325,578.15. Following the completion of the transaction, the insider directly owned 20,567 shares in the company, valued at $3,513,049.27. This represents a 39.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,281,967 shares of company stock valued at $230,470,521. Insiders own 27.21% of the company’s stock.

Institutional Trading of Airbnb

Hedge funds have recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in Airbnb during the 3rd quarter worth $32,000. Putney Financial Group LLC bought a new stake in Airbnb in the third quarter valued at $32,000. Meeder Asset Management Inc. boosted its holdings in shares of Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Compass Financial Management LLC boosted its holdings in shares of Airbnb by 760.0% during the third quarter. Compass Financial Management LLC now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 190 shares during the period. Finally, Pension & Wealth Management Advisors Inc. bought a new position in shares of Airbnb during the third quarter worth about $35,000. Institutional investors own 80.76% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and service providers. Its platform enables users to search for, book and review a broad range of stays, including private rooms, entire homes, apartments and other distinctive properties.

In addition to lodging, Airbnb offers experiences and activities hosted by local individuals and businesses. The company also provides tools and services that help hosts create listings, manage bookings, communicate with guests and receive payments.