Airbnb (NASDAQ:ABNB) Upgraded to “Outperform” by Wedbush

Wedbush upgraded shares of Airbnb (NASDAQ:ABNBFree Report) from a neutral rating to an outperform rating in a research report report published on Tuesday, Marketbeat Ratings reports. Wedbush currently has $165.00 target price on the stock, up from their previous target price of $160.00. Wedbush also issued estimates for Airbnb’s Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $2.36 EPS, Q4 2024 earnings at $0.78 EPS, FY2024 earnings at $4.45 EPS and FY2025 earnings at $5.08 EPS.

ABNB has been the topic of a number of other research reports. Mizuho upgraded shares of Airbnb from a neutral rating to a buy rating and raised their price objective for the company from $150.00 to $200.00 in a research note on Wednesday, April 24th. DA Davidson reiterated a neutral rating and set a $145.00 price objective on shares of Airbnb in a research note on Thursday, May 9th. Piper Sandler Companies raised their price objective on shares of Airbnb from $145.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Airbnb from $140.00 to $145.00 and gave the company a neutral rating in a research note on Thursday, May 9th. Finally, B. Riley started coverage on shares of Airbnb in a research note on Wednesday, April 3rd. They set a neutral rating and a $150.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $152.38.

View Our Latest Stock Report on ABNB

Airbnb Stock Performance

ABNB opened at $144.93 on Tuesday. The business’s 50 day moving average is $155.73 and its 200-day moving average is $148.53. The stock has a market cap of $93.34 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. Airbnb has a twelve month low of $103.74 and a twelve month high of $170.10.

Airbnb (NASDAQ:ABNBGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Airbnb had a return on equity of 39.37% and a net margin of 48.23%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, analysts predict that Airbnb will post 4.68 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CFO Elinor Mertz sold 9,196 shares of Airbnb stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total transaction of $1,441,564.96. Following the completion of the sale, the chief financial officer now owns 535,530 shares of the company’s stock, valued at approximately $83,949,682.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Aristotle N. Balogh sold 72,976 shares of Airbnb stock in a transaction on Friday, March 8th. The shares were sold at an average price of $167.00, for a total value of $12,186,992.00. Following the completion of the sale, the chief technology officer now owns 145,531 shares of the company’s stock, valued at approximately $24,303,677. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elinor Mertz sold 9,196 shares of Airbnb stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $156.76, for a total transaction of $1,441,564.96. Following the completion of the sale, the chief financial officer now directly owns 535,530 shares of the company’s stock, valued at approximately $83,949,682.80. The disclosure for this sale can be found here. Insiders sold 238,424 shares of company stock valued at $39,747,976 in the last quarter. Company insiders own 27.83% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Several institutional investors and hedge funds have recently modified their holdings of ABNB. Transcendent Capital Group LLC bought a new position in Airbnb in the 1st quarter worth $25,000. CVA Family Office LLC bought a new position in Airbnb in the 4th quarter worth $26,000. Orion Capital Management LLC bought a new position in Airbnb in the 3rd quarter worth $27,000. Bfsg LLC bought a new position in Airbnb in the 4th quarter worth $27,000. Finally, Trust Co. of Vermont bought a new position in Airbnb in the 4th quarter worth $27,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Airbnb Company Profile

(Get Free Report)

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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Analyst Recommendations for Airbnb (NASDAQ:ABNB)

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