Airbnb (NASDAQ:ABNB) Releases Earnings Results, Beats Estimates 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 firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the business earned $0.18 EPS. Airbnb’s quarterly revenue was up 17.8% compared to the same quarter last year. Airbnb updated its Q2 2024 guidance to EPS.

Airbnb Stock Down 6.6 %

NASDAQ ABNB traded down $10.49 on Thursday, hitting $147.41. 8,800,989 shares of the stock traded hands, compared to its average volume of 4,514,691. 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 stock has a 50-day moving average of $161.68 and a 200 day moving average of $145.50. Airbnb has a twelve month low of $103.55 and a twelve month high of $170.10. The company has a market capitalization of $95.38 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24.

Insider Transactions at Airbnb

In related news, CFO Dave Stephenson sold 7,838 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $145.98, for a total transaction of $1,144,191.24. Following the transaction, the chief financial officer now directly owns 85,802 shares in the company, valued at $12,525,375.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Airbnb news, CEO Brian Chesky sold 76,912 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dave Stephenson sold 7,838 shares of Airbnb stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $145.98, for a total value of $1,144,191.24. Following the sale, the chief financial officer now directly owns 85,802 shares in the company, valued at approximately $12,525,375.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,874 shares of company stock worth $63,712,671. 27.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen reduced their price objective on shares of Airbnb from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America increased their target price on shares of Airbnb from $155.00 to $168.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Wells Fargo & Company increased their price objective on shares of Airbnb from $107.00 to $127.00 and gave the company an “underweight” rating in a research note on Monday, April 1st. DA Davidson restated a “neutral” rating and set a $145.00 target price on shares of Airbnb in a research report on Thursday. Finally, Benchmark started coverage on shares of Airbnb in a report on Thursday, April 11th. They issued a “buy” rating and a $190.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Airbnb currently has an average rating of “Hold” and a consensus price target of $151.55.

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.