Tigress Financial Reiterates Buy Rating for Airbnb (NASDAQ:ABNB)

Airbnb (NASDAQ:ABNB)‘s stock had its “buy” rating restated by equities research analysts at Tigress Financial in a research report issued on Wednesday, TipRanks reports. They currently have a $206.00 price objective on the stock. Tigress Financial’s target price would indicate a potential upside of 24.90% from the company’s previous close.

Several other equities research analysts have also weighed in on ABNB. Needham & Company LLC raised their price objective on Airbnb from $194.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, August 13th. JMP Securities raised their target price on Airbnb from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. Credit Suisse Group raised their target price on Airbnb from $164.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, August 13th. Zacks Investment Research cut Airbnb from a “buy” rating to a “hold” rating in a research report on Thursday, August 12th. Finally, Loop Capital raised their target price on Airbnb from $195.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, June 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $170.79.

ABNB traded up $1.63 during trading hours on Wednesday, hitting $164.93. The company’s stock had a trading volume of 156,980 shares, compared to its average volume of 6,799,671. Airbnb has a fifty-two week low of $121.50 and a fifty-two week high of $219.94. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $103.68 billion and a PE ratio of -10.61. The company has a 50-day simple moving average of $149.09 and a 200 day simple moving average of $159.00.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.36. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. Research analysts expect that Airbnb will post -0.24 earnings per share for the current fiscal year.

In other Airbnb news, CFO Dave Stephenson sold 15,203 shares of the company’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $158.28, for a total transaction of $2,406,330.84. Following the completion of the sale, the chief financial officer now owns 309,519 shares in the company, valued at approximately $48,990,667.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Gebbia sold 145,833 shares of the company’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $154.16, for a total transaction of $22,481,615.28. The disclosure for this sale can be found here. Insiders sold a total of 2,189,569 shares of company stock valued at $319,883,504 in the last 90 days. 36.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC increased its position in shares of Airbnb by 81.3% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 74 shares in the last quarter. Covington Capital Management boosted its stake in Airbnb by 3.8% in the 1st quarter. Covington Capital Management now owns 2,075 shares of the company’s stock worth $390,000 after purchasing an additional 75 shares during the period. Column Capital Advisors LLC boosted its stake in Airbnb by 10.1% in the 2nd quarter. Column Capital Advisors LLC now owns 841 shares of the company’s stock worth $129,000 after purchasing an additional 77 shares during the period. Montag A & Associates Inc. boosted its stake in Airbnb by 5.1% in the 2nd quarter. Montag A & Associates Inc. now owns 1,604 shares of the company’s stock worth $246,000 after purchasing an additional 78 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Airbnb by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 22,077 shares of the company’s stock worth $3,381,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 25.22% of the company’s stock.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform for stays and experiences to guests worldwide. The company's marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms and luxury villas. The company was formerly known as AirBed & Breakfast, Inc and changed its name to Airbnb, Inc in November 2010.

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Analyst Recommendations for Airbnb (NASDAQ:ABNB)

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