Airbnb (NASDAQ:ABNB) Announces Earnings Results

Airbnb (NASDAQ:ABNB) released its earnings results on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18, Briefing.com reports. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Airbnb updated its Q2 2024 guidance to EPS.

Airbnb Stock Down 6.6 %

Airbnb stock traded down $10.35 during trading on Thursday, hitting $147.55. 10,633,239 shares of the company were exchanged, compared to its average volume of 4,534,909. The business’s 50 day moving average is $161.68 and its 200 day moving average is $145.50. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10. The company has a market capitalization of $95.48 billion, a P/E ratio of 20.36, a PEG ratio of 2.12 and a beta of 1.24. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Benchmark assumed coverage on Airbnb in a research report on Thursday, April 11th. They issued a “buy” rating and a $190.00 target price on the stock. Barclays boosted their price target on Airbnb from $100.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday, January 29th. Truist Financial boosted their price target on Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Wells Fargo & Company boosted their price target on Airbnb from $107.00 to $127.00 and gave the stock an “underweight” rating in a report on Monday, April 1st. Finally, B. Riley Financial assumed coverage on Airbnb in a report on Wednesday, April 3rd. They set a “neutral” rating and a $150.00 price target on the stock. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $151.55.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the completion of the sale, the chief technology officer now owns 146,131 shares in the company, valued at $22,695,605.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Airbnb news, CEO Brian Chesky sold 76,912 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 14,545,529 shares in the company, valued at approximately $2,149,683,730.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $155.31, for a total value of $11,725,905.00. Following the completion of the transaction, the chief technology officer now owns 146,131 shares of the company’s stock, valued at approximately $22,695,605.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 396,874 shares of company stock worth $63,712,671. 27.83% of the stock is owned by corporate insiders.

Airbnb Company Profile

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.