Airbnb (NASDAQ:ABNB) Earns "Neutral" Rating from BTIG Research

Key Points

• Airbnb's stock has received a "neutral" rating from BTIG Research, indicating a cautious outlook on the company's performance.
• Recent earnings reported a 12.7% increase in revenue year-over-year, with $3.10 billion compared to analyst expectations of $3.02 billion.
• The company has a consensus rating of "Hold" among analysts, with an average target price of $141.81 per share.

Airbnb (NASDAQ:ABNB - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at BTIG Research in a report released on Tuesday,Benzinga reports.

A number of other research analysts have also recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Airbnb from $140.00 to $145.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Phillip Securities upgraded Airbnb from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 8th. UBS Group lowered their target price on Airbnb from $156.00 to $148.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Airbnb to a "hold" rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $141.81.

Airbnb Stock Performance

Shares of ABNB opened at $120.35 on Tuesday. Airbnb has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The company has a 50 day moving average price of $125.42 and a 200-day moving average price of $127.53. The stock has a market capitalization of $74.79 billion, a PE ratio of 29.14, a PEG ratio of 2.19 and a beta of 1.10.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.11. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Airbnb will post 4.31 EPS for the current year.

Insider Activity

In other Airbnb news, CFO Elinor Mertz sold 4,630 shares of Airbnb stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the transaction, the chief financial officer directly owned 444,070 shares of the company's stock, valued at $57,027,469.40. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David C. Bernstein sold 5,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $142.00, for a total value of $710,000.00. Following the completion of the transaction, the chief accounting officer directly owned 42,619 shares in the company, valued at approximately $6,051,898. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,431,476 shares of company stock worth $182,776,618. Insiders own 27.91% of the company's stock.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently modified their holdings of ABNB. Harris Associates L P increased its holdings in Airbnb by 86.0% during the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after purchasing an additional 4,598,125 shares during the period. Norges Bank acquired a new stake in shares of Airbnb in the 2nd quarter valued at $483,644,000. Pacer Advisors Inc. raised its holdings in shares of Airbnb by 2,297.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,801,899 shares of the company's stock valued at $334,715,000 after purchasing an additional 2,685,026 shares in the last quarter. AQR Capital Management LLC raised 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 valued at $500,755,000 after purchasing an additional 1,916,676 shares in the last quarter. Finally, Amundi boosted its position in shares of Airbnb by 112.3% during the 2nd quarter. Amundi now owns 2,670,251 shares of the company's stock worth $361,525,000 after acquiring an additional 1,412,608 shares in the last quarter. Hedge funds and other institutional investors 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.

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