Wedbush Has Bearish Forecast for Airbnb FY2024 Earnings

Airbnb, Inc. (NASDAQ:ABNB) – Wedbush cut their FY2024 earnings estimates for Airbnb in a research report issued on Friday, November 8th. Wedbush analyst S. Devitt now forecasts that the company will post earnings of $3.93 per share for the year, down from their prior forecast of $4.01. Wedbush has a “Outperform” rating and a $155.00 price objective on the stock. The consensus estimate for Airbnb’s current full-year earnings is $4.07 per share. Wedbush also issued estimates for Airbnb’s Q4 2024 earnings at $0.55 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $2.39 EPS, Q4 2025 earnings at $0.65 EPS, FY2025 earnings at $4.18 EPS and FY2026 earnings at $4.92 EPS.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 33.36%. During the same period in the previous year, the firm posted $2.39 EPS.

A number of other research analysts have also weighed in on the stock. Raymond James initiated coverage on shares of Airbnb in a research report on Friday, September 27th. They set a “market perform” rating and a $134.00 target price for the company. Benchmark restated a “buy” rating and issued a $155.00 price objective on shares of Airbnb in a research note on Friday. Sanford C. Bernstein reduced their price target on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America reiterated a “hold” rating and issued a $142.00 price objective (up previously from $132.00) on shares of Airbnb in a research report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $139.94.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $137.40 on Monday. The stock has a market capitalization of $88.16 billion, a P/E ratio of 48.21, a P/E/G ratio of 1.90 and a beta of 1.15. The business has a 50-day moving average of $129.54 and a two-hundred day moving average of $137.20. Airbnb has a fifty-two week low of $110.38 and a fifty-two week high of $170.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41.

Institutional Investors Weigh In On Airbnb

A number of hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its holdings in shares of Airbnb by 138.4% in the first quarter. Empowered Funds LLC now owns 10,271 shares of the company’s stock valued at $1,694,000 after purchasing an additional 5,962 shares in the last quarter. Choate Investment Advisors bought a new stake in Airbnb in the 1st quarter worth $233,000. NorthRock Partners LLC purchased a new position in Airbnb during the 1st quarter valued at $210,000. Meeder Advisory Services Inc. lifted its position in shares of Airbnb by 6.6% in the 1st quarter. Meeder Advisory Services Inc. now owns 5,771 shares of the company’s stock worth $952,000 after purchasing an additional 357 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of Airbnb by 8.5% in the 1st quarter. QRG Capital Management Inc. now owns 24,425 shares of the company’s stock worth $4,029,000 after acquiring an additional 1,917 shares in the last quarter. 80.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total value of $71,364.00. Following the transaction, the chief technology officer now directly owns 198,244 shares in the company, valued at approximately $23,579,141.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Gebbia sold 42,719 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $126.48, for a total value of $5,403,099.12. Following the completion of the transaction, the director now owns 16,472 shares of the company’s stock, valued at $2,083,378.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $118.94, for a total transaction of $71,364.00. Following the sale, the chief technology officer now directly owns 198,244 shares of the company’s stock, valued at $23,579,141.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,806 shares of company stock valued at $51,809,831 over the last 90 days. 27.83% of the stock is currently 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.