Airbnb (NASDAQ:ABNB) Raised to Outperform at Robert W. Baird

Airbnb (NASDAQ:ABNB) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has a $175.00 price target on the stock, up from their prior price target of $140.00. Robert W. Baird’s target price indicates a potential upside of 8.41% from the stock’s current price.

A number of other brokerages have also recently commented on ABNB. Bank of America increased their target price on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Truist Financial decreased their price objective on Airbnb from $124.00 to $123.00 and set a “hold” rating on the stock in a report on Wednesday, December 4th. Phillip Securities reiterated a “reduce” rating and set a $120.00 target price on shares of Airbnb in a research report on Tuesday, November 12th. Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of Airbnb in a research note on Tuesday, February 4th. Finally, Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Airbnb in a research note on Friday, November 8th. Five research analysts have rated the stock with a sell rating, twenty have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $145.79.

Airbnb Stock Performance

NASDAQ:ABNB opened at $161.42 on Friday. 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 has a 52 week low of $110.38 and a 52 week high of $170.10. The company has a market cap of $102.34 billion, a price-to-earnings ratio of 56.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The company has a fifty day simple moving average of $133.49 and a two-hundred day simple moving average of $130.11.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, February 13th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.12. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. As a group, equities analysts anticipate that Airbnb will post 3.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $136.01, for a total value of $68,005.00. Following the completion of the transaction, the chief technology officer now directly owns 185,414 shares in the company, valued at $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Gebbia sold 214,285 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $128.95, for a total transaction of $27,632,050.75. Following the completion of the transaction, the director now owns 1,071,430 shares in the company, valued at approximately $138,160,898.50. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,608,005 shares of company stock worth $214,394,023. 27.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Airbnb during the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Airbnb in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new position in shares of Airbnb during the fourth quarter worth approximately $26,000. Hollencrest Capital Management raised its stake in Airbnb by 6,666.7% during the 3rd quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Airbnb in the 3rd quarter valued at $30,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

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.