Airbnb (NASDAQ:ABNB) Upgraded at Zacks Research

Key Points

• Zacks Research has upgraded Airbnb to a "hold" rating, reflecting a more stable outlook for the company amidst various research analysts' assessments.
• As of the latest reports, Airbnb has a consensus rating of "Hold" and a target price of $142.72, with 19 analysts giving a hold rating and only two assigning a strong buy.
• Airbnb's CEO and a director recently sold significant shares of stock, with insiders selling a total of 1,671,023 shares worth over $223 million in the last 90 days, indicating potential concerns about future performance.

Zacks Research upgraded shares of Airbnb (NASDAQ:ABNB - Free Report) to a hold rating in a research note issued to investors on Tuesday, August 12th,Zacks.com reports.

Several other research firms also recently weighed in on ABNB. Evercore ISI decreased their price target 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. B. Riley reduced their price objective on shares of Airbnb from $145.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Truist Financial reissued a "sell" rating and issued a $106.00 price objective (down from $112.00) on shares of Airbnb in a research note on Friday, May 30th. BNP Paribas raised shares of Airbnb to a "hold" rating in a research note on Wednesday, July 16th. Finally, BMO Capital Markets set a $124.00 target price on shares of Airbnb and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Airbnb presently has an average rating of "Hold" and a consensus target price of $142.72.

Airbnb Stock Up 0.4%

Shares of NASDAQ:ABNB traded up $0.51 during midday trading on Tuesday, hitting $126.00. 3,711,056 shares of the stock traded hands, compared to its average volume of 5,313,380. The stock has a market capitalization of $78.30 billion, a PE ratio of 30.51, a P/E/G ratio of 2.28 and a beta of 1.13. The business's 50 day moving average is $133.49 and its two-hundred day moving average is $130.65. Airbnb has a one year low of $99.88 and a one year high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly 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. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. Airbnb's quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Airbnb will post 4.31 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CAO David C. Bernstein sold 5,000 shares of Airbnb 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 of the company's stock, valued at $6,051,898. This trade represents a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Gebbia sold 236,000 shares of Airbnb stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $129.46, for a total transaction of $30,552,560.00. Following the completion of the transaction, the director directly owned 944,015 shares of the company's stock, valued at $122,212,181.90. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,454,493 shares of company stock valued at $194,497,481. Corporate insiders own 27.83% of the company's stock.

Institutional Investors Weigh In On Airbnb

Institutional investors have recently made changes to their positions in the company. Kentucky Trust Co bought a new stake in shares of Airbnb in the 2nd quarter worth about $25,000. Park Square Financial Group LLC bought a new stake in Airbnb during the 4th quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Airbnb by 70.9% in 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 during the period. Concord Wealth Partners purchased a new stake in Airbnb in the 2nd quarter valued at about $28,000. Finally, Orion Capital Management LLC purchased a new stake in Airbnb in the 4th quarter valued at about $28,000. 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.