Airbnb (NASDAQ:ABNB) Given “Neutral” Rating at Piper Sandler

Airbnb (NASDAQ:ABNB)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $155.00 price target on the stock, up from their prior price target of $145.00. Piper Sandler’s target price points to a potential upside of 6.01% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Benchmark began coverage on Airbnb in a report on Thursday, April 11th. They issued a “buy” rating and a $190.00 price objective for the company. Mizuho raised Airbnb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $200.00 in a research note on Wednesday, April 24th. Susquehanna increased their price objective on shares of Airbnb from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, February 14th. B. Riley Financial began coverage on shares of Airbnb in a research report on Wednesday, April 3rd. They issued a “neutral” rating and a $150.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Airbnb from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $149.52.

Airbnb Price Performance

NASDAQ:ABNB opened at $146.21 on Thursday. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50-day simple moving average is $161.68 and its 200 day simple moving average is $145.50. The firm has a market cap of $94.61 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.12 and a beta of 1.24.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Wednesday, May 8th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.23 by $0.18. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts predict that Airbnb will post 4.47 earnings per share for the current year.

Insider Transactions at Airbnb

In related news, CTO Aristotle N. Balogh sold 78,682 shares of Airbnb stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the completion of the transaction, the chief technology officer now owns 144,331 shares of the company’s stock, valued at $24,435,238.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 78,682 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the transaction, the chief technology officer now directly owns 144,331 shares in the company, valued at approximately $24,435,238.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $163.00, for a total transaction of $97,800.00. Following the completion of the sale, the chief technology officer now owns 144,931 shares of the company’s stock, valued at approximately $23,623,753. The disclosure for this sale can be found here. Insiders sold a total of 396,874 shares of company stock worth $63,712,671 over the last three months. 27.83% of the stock is owned by company insiders.

Institutional Trading of Airbnb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TBH Global Asset Management LLC acquired a new stake in Airbnb in the first quarter valued at approximately $275,000. SageView Advisory Group LLC lifted its holdings in shares of Airbnb by 6.2% in the 1st quarter. SageView Advisory Group LLC now owns 2,995 shares of the company’s stock worth $494,000 after purchasing an additional 175 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Airbnb by 12.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 671,068 shares of the company’s stock valued at $110,699,000 after purchasing an additional 75,455 shares in the last quarter. Angeles Wealth Management LLC bought a new stake in Airbnb during the 1st quarter valued at $230,000. Finally, Koshinski Asset Management Inc. acquired a new position in Airbnb during the first quarter worth $235,000. 80.76% of the stock is owned by institutional investors.

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.