Airbnb (NASDAQ:ABNB) Downgraded by HSBC

Airbnb (NASDAQ:ABNB) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Thursday, Briefing.com reports. They currently have a $156.00 price target on the stock, down from their prior price target of $160.00. HSBC’s price target would indicate a potential upside of 5.39% from the company’s previous close.

A number of other equities research analysts have also recently commented on ABNB. DA Davidson reiterated a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research note on Friday, March 15th. Mizuho upgraded Airbnb from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $200.00 in a research note on Wednesday, April 24th. B. Riley began coverage on Airbnb in a research note on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 target price on the stock. Royal Bank of Canada boosted their price objective on Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Finally, BMO Capital Markets boosted their price objective on Airbnb from $134.00 to $135.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $150.16.

Airbnb Stock Down 6.3 %

NASDAQ ABNB traded down $9.88 during mid-day trading on Thursday, hitting $148.02. The company’s stock had a trading volume of 5,804,844 shares, compared to its average volume of 4,463,504. The company’s 50 day simple moving average is $161.68 and its 200 day simple moving average is $145.50. Airbnb has a twelve month low of $103.55 and a twelve month high of $170.10. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $95.78 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.12 and a beta of 1.24.

Airbnb (NASDAQ:ABNB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. Airbnb had a net margin of 48.32% and a return on equity of 40.96%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Analysts anticipate that Airbnb will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In other Airbnb news, CEO Brian Chesky sold 76,912 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $147.79, for a total value of $11,366,824.48. Following the completion of the sale, the chief executive officer now owns 14,545,529 shares of the company’s stock, valued at $2,149,683,730.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Airbnb news, CFO Dave Stephenson sold 7,838 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $145.98, for a total value of $1,144,191.24. Following the completion of the sale, the chief financial officer now owns 85,802 shares in the company, valued at $12,525,375.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Chesky sold 76,912 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $147.79, for a total value of $11,366,824.48. Following the completion of the sale, the chief executive officer now owns 14,545,529 shares of the company’s stock, valued at approximately $2,149,683,730.91. The disclosure for this sale can be found here. Insiders sold a total of 396,874 shares of company stock valued at $63,712,671 over the last quarter. 27.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airbnb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its holdings in Airbnb by 79.2% in the third quarter. Mackenzie Financial Corp now owns 41,162 shares of the company’s stock worth $5,258,000 after purchasing an additional 18,196 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Airbnb by 5.1% in the third quarter. Chicago Partners Investment Group LLC now owns 1,823 shares of the company’s stock worth $250,000 after acquiring an additional 89 shares during the last quarter. Advisor Partners II LLC grew its stake in shares of Airbnb by 32.5% in the third quarter. Advisor Partners II LLC now owns 8,207 shares of the company’s stock worth $1,126,000 after acquiring an additional 2,013 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Airbnb in the third quarter worth $4,528,000. Finally, TD Asset Management Inc grew its stake in shares of Airbnb by 51.3% in the third quarter. TD Asset Management Inc now owns 242,862 shares of the company’s stock worth $33,323,000 after acquiring an additional 82,335 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

About Airbnb

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.