Airbnb (NASDAQ:ABNB) Reaches New 12-Month High Following Analyst Upgrade

Posted by on Aug 1st, 2023

Airbnb, Inc. (NASDAQ:ABNB – Get Free Report) shares reached a new 52-week high during trading on Monday after Mizuho raised their price target on the stock from $125.00 to $145.00. The stock traded as high as $154.95 and last traded at $153.40, with a volume of 982407 shares traded. The stock had previously closed at $153.33.

Several other research analysts have also commented on ABNB. KeyCorp lifted their price target on Airbnb from $135.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Piper Sandler cut their price target on Airbnb from $131.00 to $117.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 10th. Wedbush started coverage on Airbnb in a report on Monday, June 5th. They issued a “neutral” rating and a $130.00 target price on the stock. Canaccord Genuity Group dropped their target price on Airbnb from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 10th. Finally, Phillip Securities raised Airbnb from an “accumulate” rating to a “buy” rating in a report on Wednesday, May 17th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average price target of $139.47.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 516,666 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.42, for a total transaction of $77,716,899.72. Following the sale, the director now directly owns 1,666,769 shares in the company, valued at $250,715,392.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Joseph Gebbia sold 516,666 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.42, for a total value of $77,716,899.72. Following the sale, the director now directly owns 1,666,769 shares in the company, valued at $250,715,392.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catherine C. Powell sold 6,700 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $150.00, for a total value of $1,005,000.00. Following the completion of the sale, the insider now owns 121,319 shares in the company, valued at $18,197,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,600,411 shares of company stock worth $339,363,537. 30.84% of the stock is owned by corporate insiders.

Institutional Trading of Airbnb

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lincoln National Corp lifted its position in Airbnb by 38.0% during the first quarter. Lincoln National Corp now owns 5,084 shares of the company’s stock worth $632,000 after buying an additional 1,401 shares during the period. abrdn plc lifted its position in Airbnb by 74.0% during the first quarter. abrdn plc now owns 71,269 shares of the company’s stock worth $8,866,000 after buying an additional 30,313 shares during the period. Signaturefd LLC lifted its position in Airbnb by 3.8% during the first quarter. Signaturefd LLC now owns 3,638 shares of the company’s stock worth $453,000 after buying an additional 132 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Airbnb by 1.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 438,249 shares of the company’s stock worth $37,470,000 after buying an additional 6,250 shares during the period. Finally, Xponance Inc. lifted its position in Airbnb by 9.1% during the fourth quarter. Xponance Inc. now owns 50,808 shares of the company’s stock worth $4,344,000 after buying an additional 4,246 shares during the period. 41.62% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

The company has a 50-day moving average of $128.70 and a two-hundred day moving average of $120.87. The stock has a market capitalization of $97.32 billion, a PE ratio of 50.56, a P/E/G ratio of 2.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.55 and a quick ratio of 1.55.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.10 by $0.08. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.79 billion. Airbnb had a return on equity of 37.51% and a net margin of 23.30%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Sell-side analysts predict that Airbnb, Inc. will post 3.46 EPS for the current fiscal year.

Airbnb Company Profile

(Get Free Report)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, or vacation homes.

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