Airbnb, Inc. (NASDAQ: ABNB – Get a rating) – Oppenheimer Research analysts released their first quarter 2023 earnings per share (EPS) estimates for Airbnb shares in a report released on Thursday, December 1. Oppenheimer analyst J. Kelly expects the company to post earnings per share of ($0.01) for the quarter. The consensus estimate of Airbnb’s current annual earnings is $2.58 per share. Oppenheimer also released estimates for Airbnb’s Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $1.68 EPS, and Q4 2023 earnings at $0.31 EPS.
A number of other research analysts have also recently published reports on the company. Susquehanna cut its price target on Airbnb from $150.00 to $135.00 and rated the stock “positive” in a Wednesday, Nov. 2, report. Credit Suisse Group cut its price target on Airbnb from $165.00 to $154.00 and set a “neutral” rating on the stock in a Wednesday, November 2 report. Sanford C. Bernstein launched coverage on Airbnb in a research report on Tuesday, October 4. They issued an “outperform” rating and a price target of $143.00 for the company. Cowen lowered his price target on Airbnb from $140.00 to $125.00 in a Wednesday, November 2 research report. Finally, KeyCorp lowered its price target on Airbnb from $145.00 to $142.00 and set an “overweight” rating for the company in a Wednesday, Nov. 2 research report. One financial analyst has assigned the stock a sell rating, eighteen have issued a hold rating and thirteen have assigned the company’s stock a buy rating. According to data from MarketBeat.com, Airbnb has a consensus rating of “Hold” and an average target price of $141.70.
Airbnb trades down 0.9%
Shares of NASDAQ: ABNB opened at $101.27 on Friday. Airbnb has a 12-month minimum of $86.71 and a 12-month maximum of $191.73. The company’s 50-day simple moving average is $105.79 and its 200-day simple moving average is $108.70. The company has a market capitalization of $65.05 billion, a PE ratio of 42.20, a P/E/G ratio of 1.78 and a beta of 0.99. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt ratio of 0.36.
Insider activity at Airbnb
Separately, director Jeffrey D. Jordan sold 3,000 Airbnb shares in a trade dated Friday, September 9. The stock was sold at an average price of $120.09, for a total value of $360,270.00. Following completion of the transaction, the administrator now owns 282,646 shares of the company, valued at approximately $33,942,958.14. The sale was disclosed in an SEC filing, which is available via the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the company in a deal that took place on Friday, November 25. The stock was sold at an average price of $96.97, for a total transaction of $48,485.00. Following the completion of the sale, the CTO now directly owns 220,296 shares of the company, valued at approximately $21,362,103.12. The transaction was disclosed in an SEC filing, which is available via this link. Also, director Jeffrey D.Jordan sold 3,000 shares of the company in a transaction that took place on Friday, September 9. The stock was sold at an average price of $120.09, for a total value of $360,270.00. Following the sale, the director now owns 282,646 shares of the company, valued at $33,942,958.14. Disclosure of this sale can be found here. Insiders sold a total of 830,741 shares of the company worth $93,591,608 in the past 90 days. Company insiders hold 32.69% of the company’s shares.
Institutional investors weigh in on Airbnb
Several large investors have recently bought and sold shares of ABNB. Hazlett Burt & Watson Inc. purchased a new stake in Airbnb during Q1 worth approximately $34,000. Independent Advisor Alliance increased its stake in Airbnb by 32.6% in the 1st quarter. Independent Advisor Alliance now owns 9,392 shares of the company worth $1,613,000 after buying 2,307 additional shares in the last quarter. CIBC Asset Management Inc increased its stake in Airbnb by 7.1% during the 1st quarter. CIBC Asset Management Inc. now owns 68,848 shares of the company worth $11,825,000 after purchasing an additional 4,536 shares last quarter. AIA Group Ltd increased its stake in Airbnb by 91.1% during the 1st quarter. AIA Group Ltd now owns 1,030 shares in the company worth $177,000 after buying an additional 491 shares in the last quarter. Finally, the State Board of Administration of Florida Retirement System increased its position in Airbnb shares by 16.3% in the first quarter. The Florida Retirement System State Board of Directors now owns 25,404 shares of the company valued at $4,363,000 after purchasing 3,561 additional shares last quarter. 39.45% of the shares are currently held by hedge funds and other institutional investors.
Airbnb Company Profile
Airbnb, Inc., together with its affiliates, operates a platform that enables hosts to provide stays and experiences to travelers around the world. The company’s marketplace model connects hosts and guests online or via mobile devices to book spaces and experiences. It mainly offers private rooms, main residences or vacation homes.
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