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Airbnb Earnings: reopening tailwinds expected to support profit outlook


ArvinIG

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Airbnb reports its earnings aftermarket on Thursday (EST).

Airbnb
Source: Bloomberg
 
 

What to watch for

Airbnb Inc is expected to show modest revenue and earnings growth for the quarter, but convey an optimism about the prospects of growth for the company in the periods ahead.

Consensus estimates is for EPS of -0.35c for the quarter, with revenue tipped in at $1.26 billion. The company’s growth since listing last year has been hamstrung by the lockdowns and travel restrictions associated with the Covid-19 pandemic. However, with vaccine rollouts in the US and Europe proving successful, and pent-up demand for travel tipped to be released as a result, Airbnb management is expected to paint a positive outlook for future growth and earnings.

The key data going into Airbnb Q2 results

Financial metrics

EPS

Revenue

EPS growth Y/Y

Trailing P/E

-0.35c $1.26 billion N/A N/A

 

Source: Bloomberg

Analyst recommendations

Buy

Hold

Sell

Consensus price target

19 15 2 $170.59

 

Source: Bloomberg

Airbnb IG client sentiment

IG client sentiment
Source: IG charts

Airbnb technical analysis: price shows signs of bottoming as momentum lifts

Price data for Airbnb shares is relatively limited given the company only floated in late 2020.

Nevertheless, the charts clearly show price in a primary downtrend. Despite this, there are signs of burgeoning upside for the stock, after recently testing its historical lows. Price is showing signs of bottoming, with a double looking to have taken shape around price support at $US130.00 per share, while momentum is picking up with the daily RSI at 60 and trending higher.

Key resistance currently sits just above $157 per share, which also coincides with its 100-day MA. If broken, price may be drawn towards analyst consensus price target, which is at about $170 presently.

Want to trade Airbnb?

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Chart 1
Source: IG charts
 
Kyle Rodda | Market Analyst, Australia
10 August 2021

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