TD Cowen upgraded shares of Airbnb (NASDAQ:ABNB – Free Report) to a strong-buy rating in a research report report published on Monday morning,Zacks reports.
A number of other analysts have also weighed in on ABNB. Sanford C. Bernstein raised their price objective on shares of Airbnb from $168.00 to $217.00 and gave the company an “outperform” rating in a research note on Monday, August 24th. Canaccord Genuity Group set a $200.00 target price on shares of Airbnb in a research note on Friday, August 7th. KeyCorp reiterated a “sector weight” rating on shares of Airbnb in a report on Monday, August 10th. CICC Research assumed coverage on shares of Airbnb in a research report on Friday, June 5th. They set an “outperform” rating and a $165.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Airbnb from $175.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.42.
Check Out Our Latest Stock Analysis on Airbnb
Airbnb Trading Down 0.5%
Airbnb (NASDAQ:ABNB – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.Airbnb’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, equities analysts forecast that Airbnb will post 5.24 EPS for the current fiscal year.
Insider Buying and Selling at Airbnb
In other news, CEO Brian Chesky sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $174.79, for a total transaction of $34,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,501,685 shares of the company’s stock, valued at $1,835,589,521.15. The trade was a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Gebbia Jr. sold 294,903 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $148.43, for a total transaction of $43,772,452.29. Following the transaction, the director directly owned 2,622,452 shares of the company’s stock, valued at $389,250,550.36. The trade was a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,006,561 shares of company stock worth $336,375,433. Company insiders own 27.21% of the company’s stock.
Institutional Investors Weigh In On Airbnb
A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Airbnb in the fourth quarter worth about $480,332,000. Jennison Associates LLC lifted its position in shares of Airbnb by 9,331.0% during the 1st quarter. Jennison Associates LLC now owns 3,172,959 shares of the company’s stock valued at $400,681,000 after buying an additional 3,139,315 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Airbnb by 80.6% during the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock valued at $827,929,000 after acquiring an additional 2,581,539 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Airbnb during the 2nd quarter valued at approximately $330,085,000. Finally, MKA Charitable Fund bought a new position in shares of Airbnb during the 2nd quarter valued at approximately $232,515,606. Institutional investors own 80.76% of the company’s stock.
Airbnb News Roundup
Here are the key news stories impacting Airbnb this week:
- Positive Sentiment: Airbnb is committing an initial $250 million to affordable and mixed-income housing projects, aiming to unlock up to $5 billion in investment over the next decade. The first $6.4 million investment will support 201 affordable units in Austin, Texas. The program may help address criticism that short-term rentals worsen housing affordability and could reduce regulatory pressure over time. Airbnb affordable housing fund article
- Positive Sentiment: The housing accelerator will begin in Austin and combine project financing with support for pro-housing policies, zoning reform and construction technology. Investors may view this as a potential long-term competitive and regulatory advantage, although the financial returns are not yet established. Airbnb Austin housing accelerator article
- Neutral Sentiment: Truist Financial maintained its Hold rating on ABNB, signaling that the analyst sees limited conviction for a material near-term move higher. Broader analyst commentary on consumer-cyclical companies also provides no clear bullish catalyst for Airbnb. Truist Airbnb Hold rating
- Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.35 million, reducing his position by 39.8%. While insider sales can reflect diversification or planned transactions, the sale may weigh on sentiment because it represents a substantial reduction in his holdings. Nathan Blecharczyk insider transaction
About Airbnb
Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.
The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.
Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.
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