Airbnb Inc ABNB shares are trading higher Wednesday after the company reported better-than-expected financial results and issued guidance above analyst estimates.
Airbnb said first-quarter revenue increased 70% year-over-year to $1.5 billion, which beat the $1.45 billion estimate, according to data from Benzinga Pro. The company reported a quarterly earnings loss of 3 cents per share, which beat the estimate for a loss of 29 cents per share.
Airbnb said nights and experiences booked in the first quarter totaled 102.1 million, an increase of 59% year-over-year. Gross booking value reached $17.2 billion during the quarter, an increase of 67% year-over-year.
Airbnb expects second-quarter revenue to be between $2.03 billion and $2.13 billion versus the $1.97 billion estimate.
Related Link: Airbnb Q1 Earnings Highlights: Revenue And EPS Beat, Record Bookings, Strong Demand Moving Forward
Analyst Assessment:
- Piper Sandler analyst Thomas Champion maintained Airbnb with a Neutral rating and lowered the price target from $194 to $174.
- Barclays analyst Mario Lu maintained Airbnb with an Equal-Weight rating and lowered the price target from $185 to $170.
- UBS analyst Lloyd Walmsley maintained Airbnb with a Neutral rating and raised the price target from $178 to $185.
- Credit Suisse analyst Stephen Ju maintained Airbnb with a Neutral rating and raised the price target from $185 to $190.
ABNB 52-Week Range: $129.71 - $212.58
The stock was up 5.17% at $152.46 at press time.
Photo: InstagramFOTOGRAFIN from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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