Airbnb, Inc. (NASDAQ:ABNB) to Post Q2 2024 Earnings of $0.98 Per Share, B. Riley Forecasts

Airbnb, Inc. (NASDAQ:ABNB) – Stock analysts at B. Riley upped their Q2 2024 earnings per share (EPS) estimates for Airbnb in a research report issued on Thursday, May 9th. B. Riley analyst N. Khan now forecasts that the company will earn $0.98 per share for the quarter, up from their previous forecast of $0.88. B. Riley has a “Neutral” rating and a $150.00 price objective on the stock. The consensus estimate for Airbnb’s current full-year earnings is $4.47 per share. B. Riley also issued estimates for Airbnb’s Q3 2024 earnings at $2.55 EPS.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.18. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.06 billion. Airbnb had a return on equity of 40.96% and a net margin of 48.32%. Airbnb’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share.

A number of other analysts have also recently weighed in on ABNB. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Thursday. Piper Sandler Companies lifted their price target on Airbnb from $145.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday. Benchmark started coverage on Airbnb in a research note on Thursday, April 11th. They issued a “buy” rating and a $190.00 price objective for the company. HSBC downgraded shares of Airbnb from a “buy” rating to a “hold” rating and cut their target price for the stock from $160.00 to $156.00 in a research report on Thursday. Finally, Truist Financial lifted their price target on shares of Airbnb from $118.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $151.91.

Airbnb Trading Down 6.9 %

Shares of Airbnb stock opened at $147.05 on Friday. The firm has a market capitalization of $95.15 billion, a PE ratio of 20.31, a price-to-earnings-growth 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. The firm’s 50 day moving average is $161.68 and its 200 day moving average is $145.50. Airbnb has a 1 year low of $103.55 and a 1 year high of $170.10.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 75,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $155.31, for a total transaction of $11,725,905.00. Following the transaction, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at $22,695,605.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $162.00, for a total value of $97,200.00. Following the completion of the transaction, the chief technology officer now owns 219,904 shares in the company, valued at approximately $35,624,448. 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 business’s stock in a transaction dated 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 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 397,474 shares of company stock valued at $63,809,871 in the last three months. 27.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cumberland Partners Ltd raised its holdings in shares of Airbnb by 26.0% in the 1st quarter. Cumberland Partners Ltd now owns 29,040 shares of the company’s stock worth $4,790,000 after purchasing an additional 6,000 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of Airbnb by 30.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,959 shares of the company’s stock valued at $323,000 after buying an additional 454 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Airbnb by 6.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 41,323 shares of the company’s stock valued at $6,817,000 after buying an additional 2,470 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Airbnb by 18.4% during the 1st quarter. Blair William & Co. IL now owns 533,639 shares of the company’s stock worth $88,029,000 after acquiring an additional 82,989 shares during the period. Finally, TBH Global Asset Management LLC purchased a new stake in Airbnb in the 1st quarter worth about $275,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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.