Airbnb (NASDAQ:ABNB) Posts Earnings Results, Beats Expectations By $0.18 EPS

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

Airbnb Stock Down 6.9 %

ABNB opened at $147.05 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a market cap of $95.15 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.12 and a beta of 1.24. Airbnb has a twelve month low of $103.55 and a twelve month high of $170.10. The company’s 50-day moving average price is $161.68 and its two-hundred day moving average price is $145.50.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Airbnb from $140.00 to $150.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Bank of America increased their price objective on shares of Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Tigress Financial raised their price target on shares of Airbnb from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a research note on Thursday. Finally, Citigroup dropped their price target on shares of Airbnb from $170.00 to $167.00 and set a “buy” rating for the company in a research note 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 MarketBeat, Airbnb presently has a consensus rating of “Hold” and a consensus target price of $151.91.

Insider Activity at Airbnb

In related news, CTO Aristotle N. Balogh sold 75,500 shares of Airbnb stock in a transaction that occurred 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 directly owns 146,131 shares in the company, valued at approximately $22,695,605.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Aristotle N. Balogh sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 directly owns 219,904 shares in the company, valued at $35,624,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 75,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief technology officer now directly owns 146,131 shares of the company’s stock, valued at $22,695,605.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 397,474 shares of company stock worth $63,809,871. 27.83% of the stock is owned by corporate insiders.

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.