Airbnb (NASDAQ:ABNB) Raised to "Hold" at Citizens Jmp

Key Points

• Airbnb was upgraded to a "hold" rating by Citizens Jmp, reflecting a shift in analysts' outlook on the company's stock.
• Analysts are currently showing a consensus rating of "Hold" for Airbnb with an average price target of $142.72.
• Airbnb's stock price has varied significantly over the past year, with a high of $163.93 and a low of $99.88, indicating volatility in the market.

Citizens Jmp upgraded shares of Airbnb (NASDAQ:ABNB - Free Report) to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a research note on Thursday, August 7th. Evercore ISI lowered their price objective on shares of Airbnb from $165.00 to $145.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Barclays set a $105.00 price objective on Airbnb and gave the stock an "underweight" rating in a report on Thursday, August 7th. Canaccord Genuity Group dropped their price objective on Airbnb from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Airbnb in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of "Hold" and an average price target of $142.72.

Airbnb Price Performance

Shares of Airbnb stock traded up $0.46 on Monday, reaching $125.10. 4,307,326 shares of the company were exchanged, compared to its average volume of 5,404,998. Airbnb has a 1-year low of $99.88 and a 1-year high of $163.93. The company has a market cap of $77.74 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The stock's 50 day moving average price is $133.76 and its 200-day moving average price is $130.71.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business's revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts predict that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $129.71, for a total value of $30,611,560.00. Following the completion of the transaction, the director owned 236,015 shares in the company, valued at approximately $30,613,505.65. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the transaction, the chief financial officer owned 461,361 shares of the company's stock, valued at $62,680,505.46. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,671,023 shares of company stock worth $223,195,427 in the last quarter. Company insiders own 27.91% of the company's stock.

Institutional Trading of Airbnb

Several hedge funds have recently added to or reduced their stakes in ABNB. Harris Associates L P raised its stake in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company's stock worth $1,188,024,000 after buying an additional 4,598,125 shares in the last quarter. Norges Bank bought a new stake in shares of Airbnb in the 2nd quarter worth $483,644,000. Pacer Advisors Inc. raised its stake 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 worth $334,715,000 after buying an additional 2,685,026 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Airbnb by 512.0% in the 4th quarter. Two Sigma Advisers LP now owns 3,080,300 shares of the company's stock worth $404,782,000 after buying an additional 2,577,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake 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 buying an additional 1,916,676 shares in the last quarter. 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.