Airbnb (ABNB) is scheduled to release its third-quarter 2024 financial results on November 7. Depending on the quarterly result, investors might find a stable price direction.
ABNB Earnings Projection
According to ABNB, third-quarter 2024 earnings will range from $3.67 billion to $3.73 billion, representing an 8–10% disclosed increase from the previous year.
Currently, the Analysts' Consensus Estimate for Q3 earnings stands at $3.72 billion, representing 9.58% annual growth.
The current consensus earnings mark is $2.17 per share, which is a penny lower than it was 30 days ago. The number represents a 9.21% drop from the revealed figure for the same quarter last year.
ABNB Growth Factor
Airbnb thrives thanks to its solid core business, wise investments, and growing international presence. It is expanding in both urban and rural regions thanks to resilient listings on its platform and solid traction in the marketplace, which links guests and hosts online.
Notably, Airbnb boasts over 7.7 million advertisements on its platform, spread throughout 100,000 cities in nearly every nation and region. These factors are anticipated to have influenced Airbnb's third-quarter fiscal 2024 outcomes.
It is anticipated that the rise in its gross nights reserved was driven by rising demand for both urban and international travel and growing momentum in rural regions. At 126 million, the Analysts' Consensus Forecast for Nights and Experiments reserved represents a 9.6% increase from the previous year.
ABNB Business Expansion is Solid
Notable are Airbnb's efforts to expand the host community's size and caliber. In an effort to draw additional hosts to its platform worldwide, the company is broadening its use cases and providing support for different types of hosts—those who let guests stay in their homes. The change will assist hosts in providing guests with excellent stays and experiences. To make it simpler for hosts to get started, Airbnb is also increasing awareness about hosting.
One important driver is Airbnb's increased emphasis on global expansion. It involves making investments in less developed or underserved foreign markets in order to seize expansion prospects. In order to continue growing, it plans to keep making investments in less developed markets within 2024 and further.
Tailwinds include ABNB's increasing investments to fortify its core offerings. To make the system more dependable and cost-effective for visitors, it has upgraded its fundamental service with over 430 new features.
Airbnb Stock Forecast Technical Analysis
In the daily chart of ABNB stock price, the current price is facing selling pressure from the trendline resistance, from where a strong breakout could signal a trend continuation.
On the other hand, the recent Airbnb stock price showed a buying pressure from the 112.74 bottom that took the price above the 20 day EMA line. Moreover, the Moving Average wave is acting as an immediate support level as a bullish daily candle is visible from this area.
Based on the daily market outlook of ABNB, a minor buying pressure is visible, which needs more clues to anticipate a trend continuation. In that case, a stable market above the 146.48 high volume line could increase the price towards the 166.51 resistance level.
The alternative approach is to find an immediate selling pressure, where a daily close below the 50 day EMA could lower the price towards the 120.00 psychological line.
