Airbnb (NASDAQ:ABNB) Reaches New 1-Year High – Time to Buy?

Airbnb, Inc. (NASDAQ:ABNB) shares reached a new 52-week high on Wednesday . The company traded as high as $188.13 and last traded at $188.3660, with a volume of 750126 shares traded. The stock had previously closed at $183.25.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of Airbnb in a research report on Monday, August 10th. Cantor Fitzgerald boosted their price target on Airbnb from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Susquehanna increased their price objective on shares of Airbnb from $170.00 to $200.00 and gave the company a “positive” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $170.00 price objective on shares of Airbnb in a research report on Friday, May 8th. Finally, The Goldman Sachs Group set a $170.00 target price on shares of Airbnb in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.00.

Airbnb Stock Performance

The business’s fifty day moving average price is $150.83 and its two-hundred day moving average price is $138.38. 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 stock has a market capitalization of $112.17 billion, a P/E ratio of 42.61, a P/E/G ratio of 2.13 and a beta of 1.14.

Airbnb (NASDAQ:ABNB) last announced its earnings results on Thursday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Airbnb had a net margin of 20.45% and a return on equity of 33.38%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. As a group, sell-side analysts forecast that Airbnb, Inc. will post 5.22 earnings per share for the current year.

Insider Buying and Selling at Airbnb

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 stock was sold at an average price of $173.61, for a total value of $3,472,200.00. Following the completion of the sale, the chief executive officer directly owned 5,854 shares of the company’s stock, valued at $1,016,312.94. This trade represents a 77.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathan Blecharczyk sold 531,000 shares of Airbnb stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $174.41, for a total value of $92,611,710.00. Following the completion of the transaction, the insider owned 171,370 shares of the company’s stock, valued at approximately $29,888,641.70. This trade represents a 75.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,107,936 shares of company stock valued at $458,993,808. Corporate insiders own 27.21% of the company’s stock.

Institutional Investors Weigh In On Airbnb

Hedge funds and other institutional investors have recently made changes to their positions in the company. Transamerica Financial Advisors LLC boosted its stake in shares of Airbnb by 143.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 190 shares of the company’s stock worth $26,000 after purchasing an additional 112 shares during the period. Entrust Financial LLC bought a new stake in Airbnb in the fourth quarter worth about $27,000. Meeder Asset Management Inc. lifted its stake in Airbnb by 96.3% in the first quarter. Meeder Asset Management Inc. now owns 214 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Airbnb by 397.7% in the third quarter. Sunbelt Securities Inc. now owns 219 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Finally, Wiser Advisor Group LLC purchased a new position in shares of Airbnb during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

Airbnb Company Profile

Airbnb, Inc (NASDAQ: ABNB) operates a global online marketplace that connects travelers with hosts offering short-term lodging, unique accommodations and related travel experiences. The company’s core platform enables individuals and professional property managers to list private homes, apartments, single rooms and entire properties, while providing search, booking and payment processing for guests. Airbnb earns revenue primarily through service fees charged to guests and hosts and offers tools to facilitate reservations, communications, and logistics between parties.

Beyond accommodations, Airbnb has expanded its product portfolio to include curated experiences led by local hosts, higher-end offerings such as Airbnb Luxe, and programs aimed at enhancing quality and safety like Airbnb Plus.