Airbnb, Inc. (ABNB) closed the latest trading day at $128.85, indicating a -0.6% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.
Coming into today, shares of the company had lost 1.01% in the past month. In that same time, the Consumer Discretionary sector lost 5.64%, while the S&P 500 lost 2.2%.
Investors will be eagerly watching for the performance of Airbnb, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.59, marking a 22.37% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.43 billion, up 9.34% from the year-ago period.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Airbnb, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.51% lower. Airbnb, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Airbnb, Inc. is presently trading at a Forward P/E ratio of 29.31. This expresses a premium compared to the average Forward P/E of 18.07 of its industry.
One should further note that ABNB currently holds a PEG ratio of 1.63. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ABNB's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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