Airbnb (NASDAQ:ABNB) Upgraded to “Strong-Buy” at Argus

Airbnb (NASDAQ:ABNB) was upgraded by analysts at Argus to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Jefferies Financial Group lifted their price target on Airbnb from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Citizens Jmp upgraded shares of Airbnb from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Airbnb in a research note on Wednesday, January 14th. Sanford C. Bernstein reduced their price objective on Airbnb from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald set a $121.00 price objective on Airbnb in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $148.69.

Airbnb Trading Up 0.0%

NASDAQ:ABNB opened at $124.27 on Tuesday. The firm has a market capitalization of $76.49 billion, a PE ratio of 30.76, a PEG ratio of 1.69 and a beta of 1.15. Airbnb has a 1 year low of $99.88 and a 1 year high of $160.00. The firm’s fifty day simple moving average is $131.15 and its 200 day simple moving average is $126.01.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, February 12th. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.10). The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion. Airbnb had a return on equity of 30.88% and a net margin of 20.51%.The firm’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, analysts anticipate that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Gebbia sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $121.15, for a total transaction of $7,026,700.00. Following the completion of the transaction, the director owned 402,015 shares in the company, valued at $48,704,117.25. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Chesky sold 51,230 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $131.16, for a total value of $6,719,326.80. Following the completion of the sale, the chief executive officer owned 45,854 shares in the company, valued at $6,014,210.64. This trade represents a 52.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,027,422 shares of company stock valued at $127,060,208. 27.91% of the stock is currently owned by company insiders.

Institutional Trading of Airbnb

Several large investors have recently added to or reduced their stakes in ABNB. Harris Associates L P raised its stake in shares of Airbnb by 43.2% in the second quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after acquiring an additional 4,292,383 shares during the last quarter. Independent Franchise Partners LLP acquired a new stake in Airbnb during the 3rd quarter valued at $505,672,000. Norges Bank bought a new position in Airbnb in the 2nd quarter valued at $483,644,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Airbnb by 453.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,325,498 shares of the company’s stock worth $403,782,000 after purchasing an additional 2,724,682 shares in the last quarter. Finally, SRS Investment Management LLC bought a new stake in shares of Airbnb during the fourth quarter worth $342,017,000. 80.76% of the stock is 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.