Airbnb (NASDAQ:ABNB) Stock Rating Upgraded by Mizuho

Key Points

• Airbnb's stock rating has been upgraded to a "strong-buy" by Mizuho, following positive adjustments from several other research firms.
• The company reported earnings per share (EPS) of $1.03, exceeding estimates of $0.92, with a revenue of $3.10 billion for the last quarter.
• Airbnb shares declined by 1.2% after opening at $121.42, with a current average price target of $141.81 set by analysts.

Airbnb (NASDAQ:ABNB - Get Free Report) was upgraded by research analysts at Mizuho to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on ABNB. Phillip Securities raised Airbnb from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 8th. Zacks Research raised Airbnb to a "hold" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on Airbnb from $120.00 to $130.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Wells Fargo & Company set a $110.00 target price on Airbnb and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets set a $124.00 target price on Airbnb and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $141.81.

Airbnb Trading Down 1.2%

Shares of ABNB stock opened at $121.42 on Monday. Airbnb has a 12 month low of $99.88 and a 12 month high of $163.93. The stock has a market cap of $75.46 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The company's fifty day moving average price is $127.03 and its 200-day moving average price is $127.67.

Airbnb (NASDAQ:ABNB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11. The firm had revenue of $3.10 billion during 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%.Airbnb'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 EPS. On average, sell-side analysts forecast that Airbnb will post 4.31 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nathan Blecharczyk sold 2,246 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $125.20, for a total value of $281,199.20. Following the transaction, the insider directly owned 182,514 shares in the company, valued at $22,850,752.80. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $135.86, for a total value of $849,125.00. Following the completion of the transaction, the chief financial officer owned 461,361 shares in the company, valued at $62,680,505.46. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,438,326 shares of company stock worth $186,735,385 in the last quarter. Corporate insiders own 27.83% of the company's stock.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently added to or reduced their stakes in the stock. Kentucky Trust Co purchased a new stake in Airbnb during the 2nd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Airbnb by 70.9% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 200 shares of the company's stock valued at $26,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners purchased a new stake in Airbnb during the 2nd quarter valued at approximately $28,000. Stonebridge Financial Group LLC grew its holdings in Airbnb by 75.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after buying an additional 106 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Airbnb by 235.3% during the 2nd quarter. Whipplewood Advisors LLC now owns 228 shares of the company's stock valued at $30,000 after buying an additional 160 shares in the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

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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