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Contents
Airbnb Shares Up Nearly 5% in the Past Month
What Retail ABNB Investors Should Note
Neither author Tim Fries nor this website, The Tokenist, provides financial advice. Please refer to our website policy before making any financial decisions.
Airbnb, Inc. (NASDAQ: ABNB) is set to report its third-quarter earnings after the closing bell on Thursday, November 7, 2024. Analysts are projecting earnings of $2.14 per share, a significant decrease from the $6.63 per share reported in the same period last year.
Despite the decline in earnings, revenue is expected to rise 9.4% year over year to $3.72 billion, a slowdown from the 17.8% growth seen a year earlier. The company beat expectations with revenue of $2.75 billion last quarter, representing a 10.6% increase from a year earlier, but falling short of bookings estimates.
Airbnb Shares Up Nearly 5% in the Past Month
Airbnb’s stock has shown resilience amid market headwinds, closing up 2.2% at $140.91 the day before the earnings report. The stock has gained 4.9% in the past month, reflecting positive sentiment in its consumer internet segment, which is up 8.6% on average.
Analysts have given mixed ratings to Airbnb, with UBS and B of A Securities maintaining neutral ratings and raising their price targets to $144 and $142, respectively. Meanwhile, Wells Fargo and Cantor Fitzgerald have given underweight ratings with price targets of $102 and $94. Mizuho remains bullish with an outperform rating, though it has slightly lowered its price target to $170.
Airbnb’s stock price is currently $145.33, representing an increase of $4.35, or a gain of 3.09%. Over the past year, the stock has returned 22.98%, but over three years it has fallen 27.92%.
The company has a market cap of $91.91 billion, supported by strong financial metrics such as a profit margin of 46.11% and a return on equity of 74.18%. Airbnb's total revenue for the last twelve months was $10.5 billion, with a net income of $4.84 billion, highlighting its profitability in the travel services industry.
What Retail ABNB Investors Should Note
Retail investors should closely monitor Airbnb’s performance against expected earnings per share of $2.14 and revenue of $3.72 billion. Updates to booking numbers are especially important after missing estimates last quarter.
Additionally, guidance for the upcoming quarter will be crucial in shaping investor sentiment and stock performance. Changes in analyst ratings and price targets following the earnings report could further influence market sentiment. Investors should also consider Airbnb's performance relative to competitors like Booking Holdings (NASDAQ: BKNG) and Expedia Group (NASDAQ: EXPE), as well as broader market trends in the consumer internet segment.
As Airbnb prepares to announce its earnings, it celebrates its 26th anniversary since its founding on August 11, 2008. The company remains a major player in the travel services industry with 56% institutional ownership. Analysts have given it a strong buy recommendation with price targets ranging from $80.00 to $195.00.