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Airbnb, Inc. (ABNB) Gains But Lags Market: What You Should Know
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Airbnb, Inc. (ABNB - Free Report) closed at $140.10 in the latest trading session, marking a +0.05% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
Shares of the company witnessed a loss of 7.64% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 5.32% and the S&P 500's loss of 1.16%.
The investment community will be closely monitoring the performance of Airbnb, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. In that report, analysts expect Airbnb, Inc. to post earnings of $0.92 per share. This would mark a year-over-year decline of 6.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.75 billion, up 10.66% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.66 per share and a revenue of $11.26 billion, representing changes of -35.64% and +13.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Airbnb, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.31% higher within the past month. Currently, Airbnb, Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Airbnb, Inc. is currently being traded at a Forward P/E ratio of 30.03. Its industry sports an average Forward P/E of 19.75, so one might conclude that Airbnb, Inc. is trading at a premium comparatively.
Also, we should mention that ABNB has a PEG ratio of 1.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Content stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Internet - Content industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 205, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Airbnb, Inc. (ABNB) Gains But Lags Market: What You Should Know
Airbnb, Inc. (ABNB - Free Report) closed at $140.10 in the latest trading session, marking a +0.05% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%.
Shares of the company witnessed a loss of 7.64% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 5.32% and the S&P 500's loss of 1.16%.
The investment community will be closely monitoring the performance of Airbnb, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. In that report, analysts expect Airbnb, Inc. to post earnings of $0.92 per share. This would mark a year-over-year decline of 6.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.75 billion, up 10.66% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.66 per share and a revenue of $11.26 billion, representing changes of -35.64% and +13.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Airbnb, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.31% higher within the past month. Currently, Airbnb, Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Airbnb, Inc. is currently being traded at a Forward P/E ratio of 30.03. Its industry sports an average Forward P/E of 19.75, so one might conclude that Airbnb, Inc. is trading at a premium comparatively.
Also, we should mention that ABNB has a PEG ratio of 1.73. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Content stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Internet - Content industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 205, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.