Airbnb (NASDAQ:ABNB) Reaches New 12-Month High - Here's Why

Key Points

• Airbnb shares hit a new 52-week high, trading as high as $147.27 after closing previously at $138.85, reflecting strong recent momentum in the stock.
• Several analysts turned more bullish on Airbnb, including rating upgrades from Cantor Fitzgerald and Raymond James, while the consensus price target now stands at $157.96.
• Airbnb’s latest earnings showed revenue growth of 17.9% to $2.68 billion, but earnings per share of $0.26 came in below estimates; meanwhile, insiders have been selling shares in recent months.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABNB shares. Cantor Fitzgerald raised shares of Airbnb from a "neutral" rating to an "overweight" rating in a report on Monday, May 4th. Scotiabank began coverage on shares of Airbnb in a research report on Monday, May 4th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. lifted their target price on Airbnb from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Robert W. Baird set a $150.00 price target on Airbnb in a research note on Friday, May 8th. Finally, Raymond James Financial raised Airbnb from a "market perform" rating to a "strong-buy" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $157.96.

Airbnb Stock Performance

The firm has a market cap of $87.73 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 1.49 and a beta of 1.16. The stock's fifty day moving average is $136.75 and its two-hundred day moving average is $132.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.44.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Airbnb had a net margin of 19.90% and a return on equity of 31.24%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Airbnb's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts expect that Airbnb, Inc. will post 4.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Airbnb news, CFO Elinor Mertz sold 7,433 shares of Airbnb stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $136.24, for a total transaction of $1,012,671.92. Following the transaction, the chief financial officer owned 449,040 shares of the company's stock, valued at $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 is available through this hyperlink. Also, CEO Brian Chesky sold 30,743 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $138.40, for a total value of $4,254,831.20. Following the completion of the transaction, the chief executive officer owned 10,701,685 shares in the company, valued at $1,481,113,204. This represents a 0.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,914,860 shares of company stock valued at $259,869,869. Corporate insiders own 27.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Harris Associates L P grew its stake in shares of Airbnb by 21.0% in the fourth quarter. Harris Associates L P now owns 18,694,408 shares of the company's stock worth $2,537,205,000 after acquiring an additional 3,240,477 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Airbnb by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 10,076,465 shares of the company's stock valued at $1,368,338,000 after purchasing an additional 47,966 shares during the period. AQR Capital Management LLC boosted its holdings in Airbnb by 58.4% in the 4th quarter. AQR Capital Management LLC now owns 6,762,784 shares of the company's stock valued at $917,845,000 after purchasing an additional 2,492,847 shares during the period. Clearbridge Investments LLC grew its position in Airbnb by 3.7% in the 4th quarter. Clearbridge Investments LLC now owns 6,073,947 shares of the company's stock worth $824,356,000 after purchasing an additional 216,455 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its position in Airbnb by 23.6% in the 4th quarter. Independent Franchise Partners LLP now owns 5,146,272 shares of the company's stock worth $698,452,000 after purchasing an additional 981,624 shares during the last quarter. Institutional investors own 80.76% of the company's stock.

About Airbnb

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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