Airbnb (NASDAQ:ABNB) Raised to Strong-Buy at TD Cowen

Airbnb (NASDAQ:ABNB) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group set a $170.00 price objective on shares of Airbnb in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Airbnb in a research note on Monday, August 31st. CICC Research began coverage on shares of Airbnb in a research report on Friday, June 5th. They set an “outperform” rating and a $165.00 price target for the company. Evercore set a $200.00 price target on shares of Airbnb in a research note on Monday, August 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Airbnb from $140.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Airbnb currently has an average rating of “Moderate Buy” and a consensus target price of $181.42.

Airbnb Trading Down 0.5%

Shares of Airbnb stock opened at $167.51 on Monday. The stock has a 50 day moving average of $166.94 and a 200 day moving average of $146.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $100.30 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 1.94 and a beta of 1.16. Airbnb has a fifty-two week low of $110.81 and a fifty-two week high of $193.45.

Airbnb (NASDAQ:ABNB) last posted its earnings results on Thursday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. Airbnb had a return on equity of 33.38% and a net margin of 20.45%.The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, research analysts predict that Airbnb will post 5.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Chesky sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $173.61, for a total value of $3,472,200.00. Following the completion of the transaction, the chief executive officer owned 5,854 shares of the company’s stock, valued at approximately $1,016,312.94. This trade represents a 77.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David C. Bernstein sold 5,224 shares of Airbnb stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $182.49, for a total transaction of $953,327.76. Following the completion of the transaction, the chief accounting officer owned 48,513 shares of the company’s stock, valued at $8,853,137.37. This trade represents a 9.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,006,561 shares of company stock worth $336,375,433 over the last three months. Company insiders own 27.21% of the company’s stock.

Hedge Funds Weigh In On Airbnb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Airbnb by 0.5% in the fourth 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. Wellington Management Group LLP increased its holdings in Airbnb by 80.6% during the 2nd quarter. Wellington Management Group LLP now owns 5,785,665 shares of the company’s stock worth $827,929,000 after purchasing an additional 2,581,539 shares during the period. Clearbridge Investments LLC raised 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 valued at $824,356,000 after purchasing an additional 216,455 shares in the last quarter. Independent Franchise Partners LLP raised 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 valued at $698,452,000 after purchasing an additional 981,624 shares in the last quarter. Finally, Amundi raised its position in Airbnb by 8.6% in the 1st quarter. Amundi now owns 4,686,765 shares of the company’s stock valued at $591,845,000 after purchasing an additional 370,426 shares in the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb News Roundup

Here are the key news stories impacting Airbnb this week:

• Positive Sentiment: Airbnb is committing an initial $250 million to affordable and mixed-income housing projects, aiming to unlock up to $5 billion in investment over the next decade. The first $6.4 million investment will support 201 affordable units in Austin, Texas. The program may help address criticism that short-term rentals worsen housing affordability and could reduce regulatory pressure over time. Airbnb affordable housing fund article
• Positive Sentiment: The housing accelerator will begin in Austin and combine project financing with support for pro-housing policies, zoning reform and construction technology. Investors may view this as a potential long-term competitive and regulatory advantage, although the financial returns are not yet established. Airbnb Austin housing accelerator article
• Neutral Sentiment: Truist Financial maintained its Hold rating on ABNB, signaling that the analyst sees limited conviction for a material near-term move higher. Broader analyst commentary on consumer-cyclical companies also provides no clear bullish catalyst for Airbnb. Truist Airbnb Hold rating
• Negative Sentiment: Co-founder Nathan Blecharczyk sold 13,615 shares for approximately $2.35 million, reducing his position by 39.8%. While insider sales can reflect diversification or planned transactions, the sale may weigh on sentiment because it represents a substantial reduction in his holdings. Nathan Blecharczyk insider transaction

About Airbnb

Airbnb, Inc operates a global online marketplace that connects guests seeking accommodations and travel activities with hosts and other service providers. Through its platform and mobile applications, users can search for, book and review a broad range of lodging options, including private homes, apartments, rooms and other distinctive properties.

The company also offers Airbnb Experiences, which enables guests to discover and book activities hosted by local experts. In addition, Airbnb has expanded into related travel services, including services designed to support hosts and help them manage listings, reservations and guest relationships.

Founded in 2008 by Brian Chesky, Joe Gebbia and Nathan Blecharczyk, Airbnb serves travelers and hosts across a broad international market, with listings and activities available in destinations around the world.