Airbnb

Airbnb, Inc. (NASDAQ:ABNB) Goldman Sachs Communacopia + Technology Conference September 9, 2024 7:25 PM ET Company Participants Ellie Mertz – Chief Financial Officer Conference Call Participants Unidentified Analyst All right, I guess in the interest of time, we’re going to get started since the mics have started to work. So I know people are still trickling in, but we will get started in the interest of time. It’s my pleasure to have Airbnb back at the conference this year, and Ellie Mertz, Chief Financial Officer. Ellie, thanks for being part of the conference, and welcome. Ellie Mertz Yeah, thank you for having me, and apologies on the line-up change. We decided we wanted to talk about travel trends instead of founder mode, so I’m here. Question-and-Answer Session Q – Unidentified Analyst As I said, I’d let you say whatever you want about that. Founder mode is all the rage. But […]

Airbnb said revenue rose in the second quarter as a result of holidays and events like the Olympics, but warned about a potential slowdown in demand among U.S. consumers in the current quarter. The San Francisco-based short-term rental company on Tuesday posted a net income of $555 million, or 86 cents a share, compared with $650 million, or 98 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast earnings per share of 91 cents. Revenue rose 11% to $2.75 billion, beating the $2.74 billion expected by analysts. Airbnb had most recently said it expected revenue of $2.68 billion to $2.74 billion, representing growth of 8% to 10%. Gross booking value was up 11%, driven by a 9% increase in nights and experiences booked and a 2% rise in average rates. Wall Street analysts were also expecting growth of 11% in gross bookings. Airbnb

Airbnb’s 3Q outlook suggests booked nights growth lower than 2Q as travel demand in the US looks weak, according to BofA Securities in a research note. The analysts say that they’ve been cautious on a fading reopening benefit, as tough comparisons along with slowing long-term stays growth impacts bookings growth. They add that the home-sharing company also noted that shortening booking windows are impacting its 3Q outlook, leaving open a possibility of improving trends if US consumers end up booking late and maintaining relatively stable trip growth in September. Shares dive 15% to $111.57 in early trading, putting it on pace for its largest percentage decrease on record.

Airbnb’s (ABNB) Q2 earnings performance was “tough” due to slower demand and increased marketing expenses, RBC Capital Markets said in a note Wednesday. “We believe the company is facing a textbook multiple compression situation driven by higher marketing spend into slowing demand,” RBC said in the note. Airbnb on Tuesday posted Q2 earnings of $0.86 per share on revenue of $2.75 billion. Analysts polled by Capital IQ expected EPS of $0.91 on revenue of $2.74 billion. Management’s focus on “product cycle opportunities as a way to reignite growth was constructive” and a significant opportunity could exist, RBC said. However, the “marketing to counter deceleration” tactic led to a lowering of estimates, the brokerage said. RBC cut its price target on Airbnb’s stock to $120 from $150 and maintained sector perform rating. Airbnb shares were down by nearly 13% in recent trading.

Airbnb’s (ABNB) upside potential following a conservative second-quarter guidance makes the stock an attractive buying opportunity amid recent underperformance, Wedbush Securities said in a note on Tuesday. The brokerage upgraded the stock to outperform from neutral and increased its price target to $165 from $160. Shares of Airbnb were up 2% in Tuesday trade. The stock has declined 8.5% since the vacation rental company’s first-quarter earnings report earlier this month, compared with gains reported by the Nasdaq and Booking Holdings (BKNG), according to Wedbush. “We think investors should take advantage of this period of relative weakness and see potential upside to near-term estimates following disappointing (second-quarter) guidance that we view as conservative given positive travel data points” so far in the quarter, a group of analysts including Scott Devitt said. Travel demand appears resilient through the near term, according to Devitt. Recent industry commentary has indicated healthy demand for the

Airbnb’s (ABNB) stock price declined recently, but it’s a good time to buy because travel demand is strong and the company continues to hold a leading competitive position in the alternative accommodation segment, Wedbush said in a note Tuesday. “We think investors should take advantage of this period of relative weakness and see potential upside to near-term estimates following disappointing [Q2] guidance that we view as conservative given positive travel data points thus far in [Q2],” Wedbush said, adding that the company’s long-term growth potential remains strong, with promising opportunities as it expands beyond its core business, Wedbush added. Near-term travel demand looks strong, boosted by events like the Paris Olympics from July 26 to Aug. 11, and Euro Cup from June 14 to July 14, according to the note. Positive engagement data and rising alternative accommodation demand suggest potential for Airbnb to exceed Q2 expectations, it added. Wedbush is

Shares of Airbnb Inc (NASDAQ:ABNB) declined by 7.69% to $147.75 in the premarket session on Thursday and continued to tank after the house-rental company reported first-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways. JPMorgan analyst Doug Anmuth reiterated a Neutral rating, while raising the price target from $140 to $145. Goldman Sachs analyst Eric Sheridan maintained a Sell rating, while lifting the price target from $123 to $130. BMO Capital Markets analyst Brian Pitz reaffirmed a Market perform rating, while raising the price target from $135 to $151. Piper Sandler analyst Thomas Champion maintained a Neutral rating, while lifting the price target from $145 to $155. Wedbush analyst Scott Devitt reiterated a Neutral rating and price target of $160. JMP Securities analyst Nicholas Jones reaffirmed a Market Perform rating on the stock. KeyBanc analyst Justin Patterson maintained a Sector Weight rating on the stock.

We cut our 12-month target price to $170 from $188, on an above-peer P/E of 32x our 2025 view. We lift our 2024 EPS view to $4.67 from $4.61 and cut 2025’s to $5.30 from $5.36. ABNB posted Q1 adj. EBITDA of $424M vs. $262M, beating the $326M consensus. Revenue rose 18%, underpinned by a 12% increase in GBV. Top-line strength was driven by a 10% rise in Nights/Experiences booked to $133M, reflecting sustained vigor in travel demand and the favorable timing of Easter. Revenue was further driven by higher take rates and steady supply growth of 17%. Geographically, performance was mixed, with NA and EMEA remaining stable, while Latin America and Asia Pacific exhibited strong bookings growth of 19% and 21%, respectively. Looking ahead, we anticipate a moderation in nights growth across the industry, but expect ABNB to gain market share through new offerings like Icons, Group Trips, and

Airbnb’s (ABNB) revenue growth is likely to accelerate in the second half of this year, though higher marketing expenses are likely to affect profitability, Wedbush said in a note Thursday. The firm said a “modestly higher” marketing expense, which is one of the reasons behind the company’s lower-than-expected EBITDA guidance for Q2, is likely to persist through yearend. Airbnb’s Q2 revenue guidance of $2.68 billion to $2.74 billion is also seen as modestly below analyst estimates and implying slower-than-expected room night growth and slight margin compression, it said. “We think the room night guidance may ultimately prove conservative and note that bookings in [Q2] are likely back-half weighted and build through the quarter into the beginning of the peak summer travel season,” Wedbush said. According to Wedbush, the company is seeing bookings for stays in Q3 outpacing last year, resulting in a backlog that is expected to drive accelerating revenue

Airbnb (ABNB) reported Q1 earnings late Wednesday of $0.41 per diluted share, up from $0.18 a year earlier. Analysts polled by Capital IQ expected $0.23. Revenue in the quarter ended March 31 rose to $2.14 billion from $1.82 billion a year earlier. Analysts surveyed by Capital IQ expected $2.06 billion. The company expects Q2 revenue of $2.68 billion to $2.74 billion. Analysts polled by Capital IQ expect $2.74 billion. Airbnb shares fell 6.9% in recent after-hours trading.

Airbnb’s (ABNB) first-quarter results surpassed Wall Street’s estimates on the back of strong travel demand and the timing of Easter, while the vacation rental company late Wednesday offered a muted outlook for the second quarter. Revenue increased 18% year-over-year to $2.14 billion during the three months ended March 31, above the Capital IQ-polled consensus for $2.06 billion. The company’s per-share earnings advanced to $0.41 in the first quarter from $0.18 a year earlier. The GAAP consensus was for $0.23. The annual revenue increase benefited from higher average daily rates and the timing of Easter, which was observed in the second quarter of 2023 but was on March 31 this year. Nights and experiences booked grew 9.5% to 132.6 million, exceeding the view on Visible Alpha indicating 131.9 million. Gross booking value, which includes host earnings, service fees, cleaning fees and taxes, jumped 12% annually to $22.9 billion. For the second

Airbnb’s guidance for 2Q seems to have disappointed investors, but the company says it’s partly an issue with calendar shifts. CFO Ellie Mertz says on a call with analysts that the timing of Easter, which benefited results in 1Q, will be a headwind in 2Q on both revenue and margins. The company also notes a one-time payment processing incentive in the year-ago quarter and shifting in the timing of marketing spend. Airbnb’s forecast includes 8% to 10% revenue growth and a compression in margins. Shares fall 8.2% post-market.