Airbnb, Inc. (NASDAQ:ABNB) has received a consensus recommendation of “Hold” from the forty financial firms currently analyzing its stock, according to MarketBeat.com. The analysis reveals a diverse range of opinions: five analysts suggest selling, twenty-one recommend holding, while eleven rate the stock as a buy, and three have assigned a strong buy rating.
The average twelve-month price target for Airbnb among these analysts stands at approximately $143.88. Recent reports from various financial institutions have provided insights into the company’s performance and outlook.
Recent Analyst Ratings
On November 7, Barclays adjusted its price target for Airbnb from $105.00 to $107.00, maintaining an “underweight” rating. In a similar move, Truist Financial raised its target price to $107.00, also issuing a “sell” rating. Conversely, DA Davidson reaffirmed a “buy” rating while setting a target price of $155.00. Wedbush opted for a “neutral” rating, setting its price target at $130.00. Additionally, Wells Fargo & Company increased its price objective for Airbnb from $111.00 to $118.00, retaining an “underweight” rating.
Quarterly Earnings Performance
Airbnb reported its quarterly earnings on November 6, revealing earnings per share (EPS) of $2.21, which fell short of analysts’ expectations of $2.31 by $0.10. Despite this, the company reported a revenue of $4.10 billion, surpassing analysts’ forecasts of $4.08 billion. The year-over-year revenue growth was notable, showing an increase of 9.9%, while the return on equity was recorded at 32.14% with a net margin of 22.03%.
Sell-side analysts anticipate that Airbnb will achieve an EPS of $4.31 for the current fiscal year, indicating a cautious optimism about the company’s future performance.
Insider Trading Activity
In related news, Chief Financial Officer Elinor Mertz executed a stock sale on October 24, offloading 12,184 shares at an average price of $127.65, totaling approximately $1.56 million. Following this transaction, Mertz retains 444,070 shares valued at about $56.69 million, marking a 2.67% decrease in her position.
Additionally, insider Nathan Blecharczyk sold 77,527 shares on December 4 at an average price of $120.52, resulting in a total value of approximately $9.34 million. After the sale, Blecharczyk holds 53,298 shares, valued at about $6.42 million, reflecting a significant 59.26% reduction in his ownership.
Over the past ninety days, insiders have sold a total of 1,575,867 shares worth $190.88 million, while corporate insiders collectively own 27.83% of the company’s stock.
Institutional Investor Activity
Recent activity among institutional investors has also been noteworthy. Kentucky Trust Co acquired a new position in Airbnb valued at $25,000 in the second quarter. E Fund Management Hong Kong Co. Ltd. increased its position by 70.9%, now holding 200 shares valued at $26,000. Other notable transactions included Aster Capital Management DIFC Ltd and Concord Wealth Partners, both purchasing new positions valued at approximately $25,000 and $28,000, respectively.
Sunbelt Securities Inc. significantly boosted its stake in Airbnb by 397.7% during the third quarter, now owning 219 shares worth around $27,000. Approximately 80.76% of Airbnb’s stock is currently held by hedge funds and other institutional investors.
Airbnb, Inc. operates a platform that connects hosts with guests globally, offering a variety of accommodation types and experiences. As the company navigates changing market conditions and investor sentiment, it will be crucial to monitor both operational performance and stock market response in the coming months.
