The transactions of a company’s insiders can offer valuable insights into its growth prospects. In the case of Airbnb (NASDAQ:ABNB), recent activity by corporate insiders paints a bullish picture for the travel accommodation giant.
According to TipRanks data, corporate insiders have bought Airbnb stock worth $120.2 million over the last three months. Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in the stock is currently Positive.
Not Just Insiders
It is worth highlighting that, apart from the investors, hedge fund managers and bloggers are also bullish on the company. Based on the Blogger Opinion tool, we can see that out of the 73 bloggers tracked by TipRanks, 84% of them are optimistic, which is higher than the sector average, as pictured below.
Furthermore, the Hedge Fund signal remains Very Positive for ABNB stock. TipRanks data shows that hedge fund managers, including Bridgewater Associates’ Ray Dalio, bought 2.2 million shares of the company in the last quarter.
Is Airbnb Stock Worth Investing?
Airbnb’s efforts to introduce new features and integrate AI into its platform are expected to enhance the client’s booking experience. However, the company faces headwinds from high inflation impacting consumer spending power and increased competition.
Overall, the stock has a Hold consensus rating with 10 Buy, 21 Hold, and five Sell recommendations. Analysts’ average price target on ABNB stock of $154.50 implies a limited upside potential of 1.16%.
Importantly, the stock has an Outperform Smart Score of “Perfect 10” on TipRanks. This indicates that ABNB has the potential to beat the market.
