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Technology Stocks : Airbnb, Inc.
ABNB 126.54+0.2%3:59 PM EDT
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From: Julius Wong5/1/2022 7:24:38 AM
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Airbnb is tipped by analysts for an earnings beat and rally

Apr. 30, 2022 10:13 AM ET Airbnb, Inc. (ABNB) By: Clark Schultz, SA News Editor 27 Comments

MicroStockHub/iStock via Getty Images

Airbnb Inc. (NASDAQ: ABNB) steps up to the earnings batter's box on May 3 to consensus expectations for Q1 revenue of $1.45B and EPS of -$0.24. Room nights growth of over 20% is anticipated and gross bookings value of more than 60% from the 2019 comparable is forecast.

Shares of Airbnb ( ABNB) are down 11% in the last six weeks, but analysts thinks the earnings report and guidance update from the online travel site could be a catalyst.

Citi turned bullish on Airbnb ( ABNB) ahead of the report on its view the online travel player is emerging from the pandemic a more profitable company and with 90% of traffic organic in hand. Alternative accommodations are noted to be gaining adoption as a preferred lodging type with Airbnb ( ABNB) defining the category. The firm has a Buy rating on ABNB and price target of $200.

Meanwhile, Evercore ISI thinks Airbnb ( ABNB) could deliver a Q1 earnings beat with gross bookings and revenue estimates called conservative, given third party data and industry data points suggesting improving demand. The analyst team noted that U.S. hotel occupancy reached a COVID-era high at the end of March and occupancy rates in Europe are said to be stable to modestly improving. The firm expects ABNB to set Q2 guidance comfortably ahead of estimates. Evercore has an Outperform rating on ABNB and price target of $235, which is based on a 15X EV/Sales multiple off the 2023 revenue estimate.

Airbnb ( ABNB) investors should expect some fireworks with the earnings report. Options trading on Airbnb ( ABNB) suggests a 10% move up or down after the Q1 numbers and Q2 guidance drop.
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