Airbnb (NASDAQ:ABNB) Receives Neutral Rating from Wedbush

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $160.00 price target on the stock. Wedbush’s price target indicates a potential downside of 0.37% from the stock’s current price.

A number of other brokerages have also weighed in on ABNB. DA Davidson restated a “neutral” rating and set a $145.00 price objective on shares of Airbnb in a research report on Friday, March 15th. BMO Capital Markets boosted their price objective on Airbnb from $134.00 to $135.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. B. Riley started coverage on Airbnb in a research report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Airbnb from $140.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Mizuho lifted their target price on Airbnb from $130.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $147.58.

Airbnb Price Performance

Shares of ABNB traded up $2.23 during midday trading on Thursday, hitting $160.60. The company’s stock had a trading volume of 1,674,088 shares, compared to its average volume of 4,593,751. Airbnb has a one year low of $103.55 and a one year high of $170.10. The company’s fifty day simple moving average is $159.21 and its two-hundred day simple moving average is $141.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $103.92 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. As a group, equities analysts expect that Airbnb will post 4.63 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Aristotle N. Balogh sold 78,682 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the completion of the transaction, the chief technology officer now directly owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total value of $11,725,905.00. Following the transaction, the chief technology officer now owns 146,131 shares in the company, valued at $22,695,605.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total value of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares in the company, valued at approximately $24,435,238.30. The disclosure for this sale can be found here. Insiders sold a total of 490,584 shares of company stock valued at $77,302,032 over the last three months. Corporate insiders own 30.84% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently made changes to their positions in the stock. Wellesley Asset Management purchased a new stake in shares of Airbnb during the first quarter worth $121,000. CVA Family Office LLC purchased a new stake in shares of Airbnb in the fourth quarter worth $26,000. West Tower Group LLC increased its stake in Airbnb by 747.8% in the fourth quarter. West Tower Group LLC now owns 195 shares of the company’s stock valued at $27,000 after acquiring an additional 172 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of Airbnb during the fourth quarter valued at about $27,000. Finally, Orion Capital Management LLC bought a new position in shares of Airbnb during the third quarter valued at about $27,000. Hedge funds and other 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.