Airbnb (NASDAQ:ABNB) Announces Earnings Results

Airbnb (NASDAQ:ABNB) issued its quarterly earnings results on Tuesday. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06), Briefing.com reports. Airbnb had a net margin of 48.23% and a return on equity of 39.37%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Airbnb updated its Q3 2024 guidance to EPS.

Airbnb Stock Performance

NASDAQ:ABNB traded down $17.46 during mid-day trading on Wednesday, reaching $113.01. The company’s stock had a trading volume of 29,020,376 shares, compared to its average volume of 4,578,270. Airbnb has a 12-month low of $110.38 and a 12-month high of $170.10. The firm’s fifty day moving average price is $146.33 and its two-hundred day moving average price is $152.15. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $72.78 billion, a P/E ratio of 15.13, a PEG ratio of 1.67 and a beta of 1.18.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABNB shares. Wedbush dropped their price objective on Airbnb from $165.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley increased their price objective on Airbnb from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Barclays dropped their price objective on Airbnb from $110.00 to $100.00 and set an “underweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Airbnb from $143.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Robert W. Baird dropped their price objective on Airbnb from $140.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $137.96.

Insiders Place Their Bets

In other Airbnb news, insider Aristotle N. Balogh 600 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Aristotle N. Balogh 600 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia sold 44,990 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $150.04, for a total value of $6,750,299.60. Following the sale, the director now owns 46,467 shares of the company’s stock, valued at $6,971,908.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 734,892 shares of company stock valued at $109,326,124. 27.83% of the stock is owned by 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.