Needham & Company LLC Reaffirms “Hold” Rating for Airbnb (NASDAQ:ABNB)

Airbnb (NASDAQ:ABNB)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

Several other brokerages also recently issued reports on ABNB. Evercore ISI lowered their price target on Airbnb from $165.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Baird R W upgraded Airbnb from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Phillip Securities downgraded Airbnb from a “hold” rating to a “moderate sell” rating in a report on Friday, May 9th. Wells Fargo & Company raised their target price on Airbnb from $100.00 to $104.00 and gave the company an “underweight” rating in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald lowered their target price on Airbnb from $101.00 to $100.00 and set an “underweight” rating for the company in a research note on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.43.

Airbnb Trading Down 0.5%

Shares of ABNB opened at $136.79 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $86.25 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The stock’s fifty day simple moving average is $121.58 and its 200 day simple moving average is $131.26. Airbnb has a twelve month low of $99.88 and a twelve month high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Airbnb had a return on equity of 32.29% and a net margin of 23.85%. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insider Activity

In related news, Director Joseph Gebbia sold 214,285 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $141.93, for a total transaction of $30,413,470.05. Following the transaction, the director now owns 428,575 shares in the company, valued at $60,827,649.75. This trade represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nathan Blecharczyk sold 2,712 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $156.32, for a total transaction of $423,939.84. Following the transaction, the insider now owns 159,337 shares in the company, valued at $24,907,559.84. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,533,331 shares of company stock valued at $195,015,055. Insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new position in Airbnb in the fourth quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new position in Airbnb in the 4th quarter worth approximately $26,000. Park Square Financial Group LLC acquired a new position in Airbnb in the 4th quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the 4th quarter worth approximately $28,000. Finally, Stonebridge Financial Group LLC boosted its stake in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company’s stock worth $29,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.