Airbnb (NASDAQ:ABNB) Receives “Market Perform” Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Airbnb (NASDAQ:ABNB) in a report issued on Monday,Benzinga reports.

Several other equities research analysts have also recently commented on ABNB. Bank of America restated a “hold” rating and issued a $142.00 target price (up previously from $132.00) on shares of Airbnb in a research note on Friday, October 11th. Wells Fargo & Company upped their price objective on Airbnb from $100.00 to $102.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Wedbush upped their price objective on Airbnb from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Citigroup upped their price objective on Airbnb from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen upped their price objective on Airbnb from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.94.

Airbnb Price Performance

Shares of ABNB stock opened at $132.20 on Monday. The stock has a 50-day moving average price of $135.95 and a 200 day moving average price of $134.59. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The firm has a market cap of $83.81 billion, a price-to-earnings ratio of 46.39, a PEG ratio of 1.93 and a beta of 1.13. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. Research analysts expect that Airbnb will post 3.99 EPS for the current year.

Insider Buying and Selling at Airbnb

In related news, Director Joseph Gebbia sold 42,719 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total transaction of $5,403,099.12. Following the completion of the sale, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This trade represents a 72.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Chesky sold 76,923 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $139.94, for a total value of $10,764,604.62. Following the sale, the chief executive officer now directly owns 12,616,300 shares of the company’s stock, valued at $1,765,525,022. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,307 shares of company stock worth $72,926,063. 27.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airbnb

Several large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Airbnb in the third quarter valued at approximately $34,982,000. Tri Ri Asset Management Corp acquired a new stake in Airbnb in the third quarter valued at approximately $6,352,000. J.W. Cole Advisors Inc. grew its stake in Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after acquiring an additional 2,132 shares during the period. Shellback Capital LP acquired a new stake in Airbnb in the second quarter valued at approximately $22,744,000. Finally, Bradley Foster & Sargent Inc. CT grew its stake in Airbnb by 1,231.3% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 20,741 shares of the company’s stock valued at $3,145,000 after acquiring an additional 19,183 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

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.