Airbnb (NASDAQ:ABNB) Issues Earnings Results

Airbnb (NASDAQ:ABNB) posted its earnings results on Wednesday. The company reported $0.41 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Airbnb updated its Q2 2024 guidance to EPS.

Airbnb Price Performance

NASDAQ:ABNB traded down $10.35 during trading hours on Thursday, reaching $147.55. 10,633,239 shares of the company traded hands, compared to its average volume of 4,534,909. Airbnb has a 1-year low of $103.55 and a 1-year high of $170.10. The firm’s 50-day moving average is $161.68 and its 200-day moving average is $145.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $95.48 billion, a P/E ratio of 20.36, a P/E/G ratio of 2.12 and a beta of 1.24.

Insider Transactions at Airbnb

In other news, CTO Aristotle N. Balogh sold 78,682 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares in the company, valued at $24,435,238.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Aristotle N. Balogh sold 78,682 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $169.30, for a total transaction of $13,320,862.60. Following the sale, the chief technology officer now owns 144,331 shares in the company, valued at $24,435,238.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aristotle N. Balogh sold 75,500 shares of the stock in a transaction on Thursday, February 29th. The stock was 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 directly owns 146,131 shares in the company, valued at $22,695,605.61. The disclosure for this sale can be found here. Insiders have sold 396,874 shares of company stock worth $63,712,671 over the last quarter. 27.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen cut their price objective on Airbnb from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America boosted their target price on Airbnb from $155.00 to $168.00 and gave the stock a “neutral” rating in a research note on Thursday, March 14th. Needham & Company LLC reissued a “hold” rating on shares of Airbnb in a research note on Thursday, April 11th. Piper Sandler reaffirmed a “neutral” rating and set a $155.00 price objective (up from $145.00) on shares of Airbnb in a research report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and set a $160.00 price objective on shares of Airbnb in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $151.55.

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.