Airbnb (NASDAQ:ABNB) Coverage Initiated by Analysts at Raymond James

by · The Markets Daily

Raymond James began coverage on shares of Airbnb (NASDAQ:ABNB – Free Report) in a research report released on Friday morning, Marketbeat.com reports. The firm issued a market perform rating and a $134.00 target price on the stock.

Several other brokerages have also recently weighed in on ABNB. Truist Financial dropped their target price on Airbnb from $134.00 to $124.00 and set a hold rating for the company in a report on Wednesday, September 4th. Bank of America dropped their target price on Airbnb from $160.00 to $132.00 and set a neutral rating for the company in a report on Wednesday, August 7th. BMO Capital Markets dropped their price objective on Airbnb from $151.00 to $130.00 and set a market perform rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group dropped their price objective on Airbnb from $130.00 to $111.00 and set a sell rating for the company in a report on Thursday, August 8th. Finally, Mizuho dropped their price objective on Airbnb from $175.00 to $170.00 and set an outperform rating for the company in a report on Friday, September 13th. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $134.16.

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Airbnb Price Performance

Shares of Airbnb stock opened at $128.25 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $82.60 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16. The business’s 50-day moving average price is $123.75 and its 200-day moving average price is $143.27. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. Sell-side analysts forecast that Airbnb will post 4.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $130.58, for a total value of $78,348.00. Following the completion of the sale, the chief technology officer now owns 195,244 shares of the company’s stock, valued at approximately $25,494,961.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of Airbnb stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $130.58, for a total value of $78,348.00. Following the completion of the sale, the chief technology officer now owns 195,244 shares of the company’s stock, valued at approximately $25,494,961.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of Airbnb stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $750,000.00. Following the completion of the sale, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at approximately $64,448,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 552,989 shares of company stock valued at $75,824,030. Corporate insiders own 27.83% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Institutional investors and hedge funds have recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Airbnb in the 1st quarter worth $7,628,000. Rafferty Asset Management LLC boosted its stake in shares of Airbnb by 18.4% in the 4th quarter. Rafferty Asset Management LLC now owns 144,848 shares of the company’s stock worth $19,720,000 after buying an additional 22,551 shares during the last quarter. SteelPeak Wealth LLC lifted its position in Airbnb by 17.2% during the first quarter. SteelPeak Wealth LLC now owns 6,708 shares of the company’s stock valued at $1,107,000 after purchasing an additional 985 shares in the last quarter. ProShare Advisors LLC lifted its position in Airbnb by 20.6% during the first quarter. ProShare Advisors LLC now owns 488,869 shares of the company’s stock valued at $80,644,000 after purchasing an additional 83,383 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in Airbnb by 35.8% during the fourth quarter. State of Tennessee Treasury Department now owns 143,254 shares of the company’s stock valued at $19,503,000 after purchasing an additional 37,785 shares during the period. 80.76% of the stock is currently owned by hedge funds and other 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 connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.

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