Airbnb (NASDAQ:ABNB) Coverage Initiated at Wedbush

Equities research analysts at Wedbush started coverage on shares of Airbnb (NASDAQ:ABNB) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $152.00 price target on the stock. Wedbush’s target price indicates a potential upside of 4.12% from the company’s current price.

ABNB has been the topic of several other research reports. Raymond James Financial raised shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a report on Monday, May 4th. Jefferies Financial Group lifted their price objective on Airbnb from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial boosted their target price on Airbnb from $129.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, June 12th. DA Davidson upped their target price on Airbnb from $150.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Evercore reaffirmed an “outperform” rating on shares of Airbnb in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.84.

Airbnb Price Performance

ABNB stock opened at $145.98 on Thursday. The firm has a 50 day moving average of $139.13 and a 200-day moving average of $134.42. The firm has a market capitalization of $87.98 billion, a P/E ratio of 35.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. Airbnb has a 12 month low of $110.81 and a 12 month high of $150.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Airbnb had a return on equity of 31.24% and a net margin of 19.90%.The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the company posted $0.24 EPS. The business’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Airbnb will post 4.91 earnings per share for the current fiscal year.

Insider Activity at Airbnb

In other news, CFO Elinor Mertz sold 3,750 shares of Airbnb stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $148.01, for a total transaction of $555,037.50. Following the completion of the sale, the chief financial officer directly owned 445,290 shares of the company’s stock, valued at approximately $65,907,372.90. The trade was a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth I. Chenault sold 8,346 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $150.00, for a total transaction of $1,251,900.00. Following the completion of the transaction, the director owned 40,879 shares of the company’s stock, valued at $6,131,850. This trade represents a 16.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,325,429 shares of company stock worth $321,925,435. Corporate insiders own 27.21% of the company’s stock.

Hedge Funds Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ORG Partners LLC raised its holdings in shares of Airbnb by 97.0% during the 4th quarter. ORG Partners LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in Airbnb by 143.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after buying an additional 112 shares in the last quarter. Entrust Financial LLC bought a new position in Airbnb during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. grew its position in Airbnb by 96.3% during the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in Airbnb by 397.7% during the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

More Airbnb News

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Wedbush initiated coverage with a neutral rating and a $152 price target, implying modest upside from recent levels and signaling that analysts still see value in the shares. Article link
• Positive Sentiment: Jefferies reaffirmed its buy rating on Airbnb, supporting the view that Wall Street remains constructive on the company’s longer-term growth outlook. Article link
• Neutral Sentiment: Investors are watching Airbnb’s upcoming fiscal second-quarter earnings report, with analysts expecting double-digit earnings growth; results will likely determine whether the stock can extend recent momentum. Article link
• Neutral Sentiment: Airbnb co-founder Joseph Gebbia sold about $39 million in stock under a pre-arranged 10b5-1 plan. While not necessarily a bearish signal, insider selling can create some investor caution. Article link
• Negative Sentiment: CEO Brian Chesky’s X account was reportedly hacked and used to promote crypto tokenization posts. The incident does not directly affect fundamentals, but it is a reputational and security-related distraction for the company. Article link

About Airbnb

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.