Airbnb (NASDAQ:ABNB) Lifted to “Buy” at Citigroup

Airbnb (NASDAQ:ABNBGet Rating) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, April 20th, Marketbeat Ratings reports. The firm currently has a $200.00 price target on the stock, down from their previous price target of $214.00. Citigroup’s price objective points to a potential upside of 28.06% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Bank of America raised their price objective on shares of Airbnb from $194.00 to $198.00 and gave the stock a “neutral” rating in a report on Wednesday, February 16th. BTIG Research downgraded shares of Airbnb from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 8th. Piper Sandler raised their price target on shares of Airbnb from $169.00 to $194.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 16th. Credit Suisse Group raised their price target on shares of Airbnb from $179.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 16th. Finally, Gordon Haskett downgraded shares of Airbnb from a “buy” rating to a “hold” rating and set a $194.94 price target on the stock. in a research report on Tuesday, January 18th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $198.33.

ABNB traded up $11.18 during trading hours on Wednesday, reaching $156.18. 20,584,063 shares of the stock traded hands, compared to its average volume of 6,047,463. The company has a market cap of $100.40 billion, a price-to-earnings ratio of -205.80 and a beta of 0.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.95. Airbnb has a fifty-two week low of $129.71 and a fifty-two week high of $212.58. The firm’s fifty day simple moving average is $159.55 and its two-hundred day simple moving average is $167.13.

Airbnb (NASDAQ:ABNBGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.24. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.45 billion. Airbnb had a negative net margin of 5.88% and a negative return on equity of 5.84%. The firm’s revenue for the quarter was up 70.1% compared to the same quarter last year. During the same period last year, the business earned ($1.75) EPS. On average, research analysts predict that Airbnb will post 1.39 earnings per share for the current year.

In other news, insider Catherine C. Powell sold 6,844 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $165.93, for a total value of $1,135,624.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $174.00, for a total value of $174,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 723,246 shares of company stock worth $118,858,067. 36.30% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC lifted its holdings in shares of Airbnb by 3.1% in the 4th quarter. Jennison Associates LLC now owns 14,349,039 shares of the company’s stock valued at $2,388,972,000 after buying an additional 430,970 shares during the period. Wellington Management Group LLP raised its holdings in shares of Airbnb by 3.6% during the third quarter. Wellington Management Group LLP now owns 11,211,527 shares of the company’s stock valued at $1,880,734,000 after acquiring an additional 391,740 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Airbnb by 20.8% during the fourth quarter. Capital Research Global Investors now owns 11,210,133 shares of the company’s stock valued at $1,866,387,000 after acquiring an additional 1,926,816 shares during the last quarter. Polen Capital Management LLC acquired a new position in shares of Airbnb during the third quarter valued at approximately $1,599,368,000. Finally, Morgan Stanley raised its holdings in shares of Airbnb by 141.3% during the third quarter. Morgan Stanley now owns 8,655,893 shares of the company’s stock valued at $1,452,026,000 after acquiring an additional 5,069,443 shares during the last quarter. Hedge funds and other institutional investors own 34.66% of the company’s stock.

About Airbnb (Get Rating)

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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