Gordon Haskett Upgrades Airbnb (NASDAQ:ABNB) to Hold

Airbnb (NASDAQ:ABNB) was upgraded by investment analysts at Gordon Haskett from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a $143.00 price objective on the stock. Gordon Haskett’s price objective suggests a potential downside of 11.41% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Robert W. Baird upgraded Airbnb from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $175.00 in a research report on Friday. Jefferies Financial Group lifted their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI upped their price target on shares of Airbnb to $155.00 and gave the company a “hold” rating in a research note on Wednesday, January 15th. Finally, UBS Group boosted their target price on shares of Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Five 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $145.79.

Airbnb Stock Up 14.4 %

NASDAQ ABNB opened at $161.42 on Friday. The stock’s 50-day moving average price is $133.49 and its 200-day moving average price is $130.11. The company has a market capitalization of $102.34 billion, a P/E ratio of 56.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. 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.

Airbnb (NASDAQ:ABNB) last issued 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%. On average, equities research analysts predict that Airbnb will post 3.97 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $131.08, for a total transaction of $28,088,477.80. Following the sale, the director now directly owns 10,321 shares of the company’s stock, valued at $1,352,876.68. This represents a 95.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 of the company’s stock, valued at $25,218,158.14. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,608,005 shares of company stock valued at $214,394,023 over the last ninety days. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ABNB. Meiji Yasuda Life Insurance Co lifted its stake in Airbnb by 56.4% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 3,523 shares of the company’s stock valued at $463,000 after buying an additional 1,270 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Airbnb during the 4th quarter worth $4,139,000. Davidson Kahn Capital Management LLC acquired a new position in Airbnb during the fourth quarter worth about $936,000. Comerica Bank grew its stake in Airbnb by 10.2% during the 4th quarter. Comerica Bank now owns 93,890 shares of the company’s stock valued at $12,338,000 after acquiring an additional 8,719 shares in the last quarter. Finally, Utah Retirement Systems lifted its stake in Airbnb by 0.3% in the 4th quarter. Utah Retirement Systems now owns 60,100 shares of the company’s stock worth $7,898,000 after purchasing an additional 200 shares in the last quarter. 80.76% of the stock is owned by institutional investors and hedge funds.

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.