Airbnb (NASDAQ:ABNB) Reaches New 1-Year High – What’s Next?

Airbnb, Inc. (NASDAQ:ABNBGet Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $147.27 and last traded at $145.69, with a volume of 1339180 shares trading hands. The stock had previously closed at $138.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABNB shares. Barclays raised their price objective on shares of Airbnb from $122.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. B. Riley Financial reissued a “buy” rating on shares of Airbnb in a research report on Friday, May 8th. Raymond James Financial upgraded shares of Airbnb from a “market perform” rating to a “strong-buy” rating in a research note on Monday, May 4th. HC Wainwright raised Airbnb to a “buy” rating in a report on Monday, May 4th. Finally, Citizens Jmp upped their price objective on Airbnb from $160.00 to $170.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.96.

Check Out Our Latest Analysis on ABNB

Airbnb Stock Up 4.8%

The firm has a 50 day moving average price of $136.75 and a 200-day moving average price of $132.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $87.73 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16.

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

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 7,433 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $136.24, for a total value of $1,012,671.92. Following the sale, the chief financial officer directly owned 449,040 shares of the company’s stock, valued at approximately $61,177,209.60. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Gebbia sold 265,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $138.51, for a total value of $36,705,150.00. Following the transaction, the director directly owned 2,917,355 shares of the company’s stock, valued at $404,082,841.05. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,914,860 shares of company stock valued at $259,869,869. 27.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Airbnb

Several large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Airbnb in the 3rd quarter valued at about $25,000. ORG Partners LLC grew its holdings in Airbnb by 97.0% during the fourth quarter. ORG Partners LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the period. Transamerica Financial Advisors LLC increased its position in Airbnb by 143.6% during 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 during the last quarter. Entrust Financial LLC bought a new stake in Airbnb in the fourth quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. raised its stake in Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock valued at $27,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

About Airbnb

(Get Free Report)

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.

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