Is Airbnb In For A Surprise This Earnings Season?

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Airbnb is expected to report its first-quarter results on May 9. Strong travel demand is expected to have supported the company’s quarterly results.

Airbnb forecasted Q1 revenue between $1.75 billion and $1.82 billion, driven by growth in European travel and a gradual recovery in China. In addition, Airbnb said on the Q4 earnings call that it is entering 2023 with a strong backlog. In addition, Airbnb expects growth in booked room nights and experiences to remain as strong as 4Q22 growth of 20% year-over-year.

Meanwhile, the Street expects Airbnb to post a first-quarter profit of $0.21, compared with a loss of $0.03 in the year-ago quarter. In addition, analysts expect net revenue of $1.79 billion, up 18.5% from the year-ago quarter.

Ahead of the company’s first-quarter earnings release, DBS analyst Sachin Mittal maintained a Buy rating on Airbnb with a $153 price target. The analyst believes Airbnb’s cost control measures may have supported EBITDA margins in the quarter.

In addition, Mittal said Airbnb could prove resilient in the event of a recession. This is because the company’s business model allows it to offer accommodations at lower prices than hotels.

With the recovery boom in the travel market, Airbnb continues to strive to increase the number of users and hosts on its platform by introducing new features. Based on customer feedback, Airbnb has updated its platform and added 50 new features. This move is likely to help boost user trust.

Airbnb Long (Buy)
Enter At: 127.45
T.P_1: 132.95
T.P_2: 138.51
T.P_3: 144.79
T.P_4: 151.37
S.L: 120.13

 

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