Analysts on Wall Street project that Airbnb, Inc. (ABNB) will announce quarterly earnings of $2.89 per share in its forthcoming report, representing an increase of 30.8% year over year. Revenues are projected to reach $4.75 billion, increasing 16% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Airbnb metrics that are commonly monitored and projected by Wall Street analysts.
The consensus among analysts is that 'Nights and Seats Booked' will reach 148.91 million. Compared to the present estimate, the company reported 133.60 million in the same quarter last year.
Analysts predict that the 'Gross Booking Value per Night and Seats Booked (or ADR)' will reach $176.97 . Compared to the current estimate, the company reported $171.29 in the same quarter of the previous year.
Analysts' assessment points toward 'Gross Booking Value' reaching $26.35 billion. The estimate compares to the year-ago value of $22.90 billion.
View all Key Company Metrics for Airbnb here>>>
Shares of Airbnb have demonstrated returns of +1.2% over the past month compared to the Zacks S&P 500 composite's -0.9% change. With a Zacks Rank #3 (Hold), ABNB is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Airbnb, Inc. (ABNB) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
