What is Wedbush’s Forecast for Airbnb FY2024 Earnings?

Airbnb, Inc. (NASDAQ:ABNB) – Investment analysts at Wedbush lowered their FY2024 earnings per share estimates for shares of Airbnb in a research report issued to clients and investors on Friday, November 8th. Wedbush analyst S. Devitt now forecasts that the company will post earnings per share of $3.93 for the year, down from their prior forecast of $4.01. Wedbush has a “Outperform” rating and a $155.00 price target 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 announced its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 33.36%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business posted $2.39 earnings per share.

Several other analysts have also recently commented on the company. Raymond James initiated coverage on Airbnb in a report on Friday, September 27th. They issued a “market perform” rating and a $134.00 price target for the company. The Goldman Sachs Group reduced their price target on Airbnb from $130.00 to $111.00 and set a “sell” rating for the company in a report on Thursday, August 8th. UBS Group raised their price target on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Airbnb in a report on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on Airbnb from $134.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Six equities 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 data from MarketBeat.com, Airbnb currently has an average rating of “Hold” and an average price target of $139.31.

Airbnb Stock Down 3.1 %

ABNB opened at $133.20 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day simple moving average of $129.54 and a 200-day simple moving average of $137.20. The stock has a market capitalization of $85.46 billion, a P/E ratio of 46.91, a P/E/G ratio of 1.90 and a beta of 1.15. Airbnb has a 12 month low of $110.38 and a 12 month high of $170.10.

Hedge Funds Weigh In On Airbnb

Institutional investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in shares of Airbnb during the first quarter valued at approximately $25,000. New Millennium Group LLC bought a new position in shares of Airbnb during the second quarter valued at approximately $28,000. Heritage Wealth Advisors grew its holdings in shares of Airbnb by 55.0% during the first quarter. Heritage Wealth Advisors now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Airbnb during the first quarter valued at approximately $33,000. Finally, Cultivar Capital Inc. bought a new position in Airbnb in the 2nd quarter worth approximately $30,000. 80.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now owns 192,244 shares in the company, valued at $26,016,380.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Airbnb news, CTO Aristotle N. Balogh sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $135.33, for a total transaction of $81,198.00. Following the sale, the chief technology officer now owns 192,244 shares in the company, valued at $26,016,380.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Chesky sold 230,769 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 13,315,912 shares in the company, valued at $1,597,909,440. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,806 shares of company stock worth $51,809,831. 27.83% of the stock is currently owned by corporate 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.