Airbnb (NASDAQ:ABNB) Earns Market Perform Rating from JMP Securities

Airbnb (NASDAQ:ABNB)‘s stock had its “market perform” rating reaffirmed by JMP Securities in a research note issued to investors on Monday,Benzinga reports.

Other equities analysts have also issued research reports about the stock. TD Cowen lifted their target price on shares of Airbnb from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America reaffirmed a “hold” rating and set a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Jefferies Financial Group boosted their target price on shares of Airbnb from $120.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on shares of Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Finally, Truist Financial cut their target price on shares of Airbnb from $124.00 to $123.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus price target of $138.94.

Airbnb Stock Performance

NASDAQ:ABNB opened at $132.24 on Monday. The company has a market cap of $83.84 billion, a price-to-earnings ratio of 46.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a fifty day simple moving average of $135.94 and a two-hundred day simple moving average of $134.50. Airbnb has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company posted $2.39 earnings per share. As a group, equities analysts anticipate that Airbnb will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other news, CEO Brian Chesky sold 38,461 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $137.49, for a total value of $5,288,002.89. Following the sale, the chief executive officer now owns 12,577,839 shares of the company’s stock, valued at $1,729,327,084.11. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the sale, the chief accounting officer now directly owns 40,581 shares in the company, valued at $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 550,307 shares of company stock worth $72,926,063. 27.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors and hedge funds have recently modified their holdings of ABNB. GYL Financial Synergies LLC lifted its holdings in shares of Airbnb by 5.0% in the second quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock worth $241,000 after acquiring an additional 76 shares during the last quarter. HB Wealth Management LLC raised its holdings in Airbnb by 1.6% in the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock valued at $749,000 after buying an additional 76 shares during the last quarter. Optas LLC raised its holdings in Airbnb by 4.5% in the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock valued at $277,000 after buying an additional 78 shares during the last quarter. Sage Mountain Advisors LLC raised its holdings in Airbnb by 1.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock valued at $1,113,000 after buying an additional 79 shares during the last quarter. Finally, Asset Dedication LLC raised its holdings in Airbnb by 7.6% during the 2nd quarter. Asset Dedication LLC now owns 1,193 shares of the company’s stock worth $181,000 after purchasing an additional 84 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors and hedge funds.

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.