Needham & Company LLC Reaffirms "Hold" Rating for Airbnb (NASDAQ:ABNB)

Needham & Company LLC reiterated their hold rating on shares of Airbnb (NASDAQ:ABNB - Free Report) in a research note issued to investors on Friday morning,Benzinga reports.

A number of other analysts have also issued reports on the company. JMP Securities reiterated a "market perform" rating on shares of Airbnb in a report on Friday, February 14th. The Goldman Sachs Group upgraded Airbnb from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $110.00 to $153.00 in a report on Friday, February 14th. HSBC raised shares of Airbnb from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Argus upgraded shares of Airbnb from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Truist Financial reduced their price objective on shares of Airbnb from $123.00 to $112.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $142.31.

Airbnb Trading Down 0.3 %

ABNB traded down $0.37 during trading hours on Friday, reaching $124.89. 6,761,179 shares of the company's stock traded hands, compared to its average volume of 4,900,209. The firm has a 50-day moving average price of $123.16 and a 200 day moving average price of $131.52. The firm has a market capitalization of $78.75 billion, a PE ratio of 30.24, a PEG ratio of 3.52 and a beta of 1.14. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.24. Airbnb has a 52-week low of $99.88 and a 52-week high of $163.93.

Airbnb (NASDAQ:ABNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The company had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. Airbnb had a net margin of 23.85% and a return on equity of 32.29%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, sell-side analysts predict that Airbnb will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $108.76, for a total value of $23,305,636.60. Following the completion of the sale, the director now owns 2,294,870 shares in the company, valued at approximately $249,590,061.20. This represents a 8.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 230,772 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $161.16, for a total value of $37,191,215.52. Following the transaction, the chief executive officer now owns 12,000,913 shares in the company, valued at approximately $1,934,067,139.08. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,960,385 shares of company stock worth $267,493,266. Corporate insiders own 27.83% of the company's stock.

Hedge Funds Weigh In On Airbnb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABNB. Golden State Wealth Management LLC purchased a new position in shares of Airbnb during the 4th quarter worth $25,000. Berbice Capital Management LLC acquired a new stake in Airbnb during the fourth quarter worth about $26,000. Park Square Financial Group LLC purchased a new position in Airbnb during the fourth quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Airbnb in the 4th quarter valued at about $28,000. Finally, Stonebridge Financial Group LLC boosted its holdings in Airbnb by 75.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 246 shares of the company's stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds 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.