Airbnb (NASDAQ:ABNB) Earns Sector Weight Rating from Analysts at KeyCorp

Equities researchers at KeyCorp initiated coverage on shares of Airbnb (NASDAQ:ABNB) in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “sector weight” rating on the stock.

Several other research analysts have also recently issued reports on ABNB. Phillip Securities raised Airbnb from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 8th. Zacks Research raised Airbnb to a “hold” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada raised their target price on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Citizens Jmp raised Airbnb to a “hold” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company set a $110.00 target price on shares of Airbnb and gave the stock an “underweight” rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.81.

Airbnb Price Performance

Airbnb stock opened at $127.50 on Thursday. Airbnb has a one year low of $99.88 and a one year high of $163.93. The stock has a market capitalization of $79.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. The business’s fifty day moving average is $124.36 and its 200 day moving average is $127.54.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm posted $0.86 earnings per share. Airbnb’s revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Airbnb will post 4.31 EPS for the current fiscal year.

Insider Activity at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $124.26, for a total transaction of $74,556.00. Following the completion of the transaction, the chief technology officer owned 197,206 shares in the company, valued at $24,504,817.56. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elinor Mertz sold 4,630 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total value of $594,584.60. Following the transaction, the chief financial officer owned 444,070 shares of the company’s stock, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,425,876 shares of company stock valued at $177,336,982. 27.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Airbnb

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Airbnb by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 37,645,965 shares of the company’s stock valued at $4,982,067,000 after buying an additional 183,336 shares in the last quarter. Harris Associates L P grew its holdings in Airbnb by 43.2% during the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after buying an additional 4,292,383 shares in the last quarter. Geode Capital Management LLC grew its holdings in Airbnb by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 9,942,423 shares of the company’s stock valued at $1,314,057,000 after buying an additional 145,788 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock worth $525,979,000 after purchasing an additional 106,135 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock worth $500,755,000 after purchasing an additional 1,916,676 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Company Profile

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.