Airbnb (NASDAQ:ABNB - Get Free Report) released its 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. 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%. The business's revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Airbnb updated its Q2 2024 guidance to EPS.
Airbnb Stock Down 6.9 %
Shares of ABNB traded down $10.85 during midday trading on Thursday, hitting $147.05. The company had a trading volume of 14,779,505 shares, compared to its average volume of 4,584,188. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.24. Airbnb has a 52 week low of $103.55 and a 52 week high of $170.10. The company's 50 day moving average price is $161.68 and its 200 day moving average price is $145.50. The stock has a market cap of $95.15 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.12 and a beta of 1.24.
Insider Buying and Selling
In related news, CTO Aristotle N. Balogh sold 600 shares of the firm's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $161.02, for a total transaction of $96,612.00. Following the transaction, the chief technology officer now directly owns 220,504 shares in the company, valued at $35,505,554.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $161.02, for a total transaction of $96,612.00. Following the sale, the chief technology officer now owns 220,504 shares in the company, valued at $35,505,554.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 78,682 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $169.30, for a total value of $13,320,862.60. Following the transaction, the chief technology officer now directly owns 144,331 shares of the company's stock, valued at $24,435,238.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,874 shares of company stock worth $63,712,671. Corporate insiders own 27.83% of the company's stock.
Analyst Upgrades and Downgrades
ABNB has been the subject of several recent research reports. HSBC downgraded Airbnb from a "buy" rating to a "hold" rating and decreased their price objective for the company from $160.00 to $156.00 in a report on Thursday. DA Davidson reiterated a "neutral" rating and set a $145.00 price objective on shares of Airbnb in a research note on Thursday. UBS Group upped their price target on shares of Airbnb from $143.00 to $157.00 and gave the company a "neutral" rating in a report on Thursday. Wedbush restated a "neutral" rating and issued a $160.00 price objective on shares of Airbnb in a research report on Thursday. Finally, Needham & Company LLC restated a "hold" rating on shares of Airbnb in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $151.91.
Get Our Latest Analysis on Airbnb
Airbnb Company Profile
(
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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.
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