Phillip Securities Upgrades Airbnb (NASDAQ:ABNB) to “Buy”

Airbnb (NASDAQ:ABNB – Get Rating) was upgraded by research analysts at Phillip Securities from an “accumulate” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

A number of other analysts have also recently weighed in on the company. Tigress Financial upped their price target on Airbnb from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, March 28th. Credit Suisse Group dropped their target price on shares of Airbnb from $160.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, May 10th. The Goldman Sachs Group upped their price objective on shares of Airbnb from $87.00 to $98.00 and gave the stock a “sell” rating in a research note on Wednesday, February 15th. Barclays decreased their price target on Airbnb from $128.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 10th. Finally, Evercore ISI boosted their price objective on Airbnb from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average target price of $135.55.

Airbnb Trading Up 3.3 %

Airbnb stock opened at $111.87 on Wednesday. The business has a 50 day moving average price of $116.48 and a two-hundred day moving average price of $108.32. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.38. Airbnb has a 12 month low of $81.91 and a 12 month high of $144.63. The stock has a market cap of $71.66 billion, a price-to-earnings ratio of 37.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.13.

Airbnb (NASDAQ:ABNB – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Airbnb had a return on equity of 37.51% and a net margin of 23.30%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company posted ($0.03) earnings per share. Airbnb’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts forecast that Airbnb will post 3.44 EPS for the current year.

Insider Activity

In related news, CFO Dave Stephenson sold 16,868 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $128.21, for a total transaction of $2,162,646.28. Following the sale, the chief financial officer now owns 134,950 shares in the company, valued at $17,301,939.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Dave Stephenson sold 16,868 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $128.21, for a total value of $2,162,646.28. Following the completion of the transaction, the chief financial officer now directly owns 134,950 shares of the company’s stock, valued at $17,301,939.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Belinda J. Johnson sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $120.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 5,920 shares in the company, valued at $710,400. The disclosure for this sale can be found here. Insiders sold 3,079,403 shares of company stock worth $371,794,192 in the last quarter. Corporate insiders own 30.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. boosted its holdings in shares of Airbnb by 11.1% during the 1st quarter. Centaurus Financial Inc. now owns 3,683 shares of the company’s stock worth $458,000 after buying an additional 368 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Airbnb by 201.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 52,749 shares of the company’s stock valued at $6,562,000 after purchasing an additional 35,228 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Airbnb by 19.4% in the first quarter. Advisory Services Network LLC now owns 30,647 shares of the company’s stock valued at $3,812,000 after purchasing an additional 4,988 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Airbnb by 168.6% during the first quarter. Rockefeller Capital Management L.P. now owns 65,728 shares of the company’s stock worth $8,176,000 after purchasing an additional 41,254 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in Airbnb during the 1st quarter worth approximately $642,000. 39.02% of the stock is currently owned by institutional investors.

About Airbnb

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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.