What's Going On With Airbnb Stock Tuesday?

Airbnb Inc ABNB shares are trending Tuesday. The stock appears to be seeing increased attention ahead of the company’s quarterly results due after the bell.

What To Know: Airbnb is set to report fourth-quarter financial results after the market close on Tuesday. The company is expected to report earnings of 62 cents per share and quarterly revenue of $2.164 billion, according to estimates from Benzinga Pro.

Last quarter, Airbnb guided for fourth-quarter revenue of $2.13 billion to $2.17 billion and noted that it expected record-high fourth-quarter adjusted EBITDA. 

“We are seeing greater volatility early in Q4, and are closely monitoring macroeconomic trends and geopolitical conflicts that may impact travel demand,” the company said in a letter to shareholders. 

Oppenheimer highlighted accelerated consumer demand for short-term rentals in a new note to clients last week. The analyst provided insights on several travel related names ahead of travel earnings season.

BofA also released a note this week pointing to data showing strong bookings for Airbnb in November and December. The BofA analyst expects the company to beat expectations for average daily rates and room nights booked.

Check This Out: Airbnb Will Benefit From ‘Healthy’ Travel Conditions, Analyst Says Ahead Of Q4 Earnings

ABNB Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Airbnb have an average one-year price target of $136.60, representing an expected downside of 9.37%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. Two analysts have bearish recommendations on Airbnb, while one analyst has a bullish rating. The Street high price target from Wedbush is $150, while the street low from Barclays is $100.

ABNB Price Action: Airbnb shares were down 0.79% Tuesday morning ahead of earnings, according to Benzinga Pro.

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