B. Riley Issues Negative Forecast for Airbnb Earnings

Airbnb, Inc. (NASDAQ:ABNB) – Equities research analysts at B. Riley lowered their Q3 2024 earnings per share (EPS) estimates for Airbnb in a research note issued to investors on Wednesday, October 23rd. B. Riley analyst N. Khan now expects that the company will post earnings of $2.18 per share for the quarter, down from their previous forecast of $2.21. B. Riley currently has a “Neutral” rating and a $140.00 price target on the stock. The consensus estimate for Airbnb’s current full-year earnings is $4.33 per share. B. Riley also issued estimates for Airbnb’s FY2024 earnings at $4.39 EPS, Q1 2025 earnings at $0.48 EPS, Q3 2025 earnings at $2.67 EPS, FY2025 earnings at $5.62 EPS, FY2026 earnings at $7.42 EPS, FY2027 earnings at $9.26 EPS and FY2028 earnings at $11.43 EPS.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Airbnb had a net margin of 46.11% and a return on equity of 34.74%. The company 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 firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year.

A number of other research firms have also issued reports on ABNB. Cantor Fitzgerald reiterated an “underweight” rating and set a $94.00 price objective on shares of Airbnb in a research note on Monday, October 7th. Truist Financial decreased their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. BMO Capital Markets decreased their target price on Airbnb from $151.00 to $130.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group upped their target price on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Sanford C. Bernstein decreased their target price on Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.35.

Airbnb Stock Performance

NASDAQ:ABNB opened at $132.75 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.41 and a current ratio of 1.41. Airbnb has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market cap of $85.50 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.83 and a beta of 1.17. The business’s fifty day moving average is $124.60 and its 200 day moving average is $139.37.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Aristotle N. Balogh sold 600 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $118.94, for a total value of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Chesky sold 230,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the sale, the chief executive officer now directly owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 406,171 shares of company stock valued at $50,208,253 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Airbnb in the third quarter valued at approximately $349,000. Hedges Asset Management LLC purchased a new stake in shares of Airbnb in the third quarter valued at approximately $361,000. J.W. Cole Advisors Inc. boosted its holdings in shares of Airbnb by 86.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,598 shares of the company’s stock valued at $583,000 after purchasing an additional 2,132 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in shares of Airbnb by 80.0% in the third quarter. Frank Rimerman Advisors LLC now owns 3,567 shares of the company’s stock valued at $452,000 after purchasing an additional 1,585 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Airbnb by 20.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,770 shares of the company’s stock valued at $3,648,000 after purchasing an additional 4,864 shares during the period. Institutional investors own 80.76% of the company’s stock.

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.