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Strength Seen in Airbnb, Inc. (ABNB): Can Its 8.1% Jump Turn into More Strength?

Airbnb, Inc. (ABNB) shares soared 8.1% in the last trading session to close at $103.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% loss over the past four weeks.

Airbnb extended its rally, driven by growing sales and marketing initiatives. Further, continuous efforts to upgrade various aspects of the Airbnb service are helping the company gain momentum among hosts and guests. Moreover, increasing travel demand across the world is driving growth in the company’s Gross Booking Value. Also, continuous recovery in both longer-distance and cross-border travel owing to a reduction in travel restrictions is benefiting Airbnb’s Nights & Experience bookings. All these factors are instilling investor optimism in the stock.

This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +472.7%. Revenues are expected to be $2.1 billion, up 57.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Airbnb, Inc., the consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ABNB going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Airbnb, Inc. is part of the Zacks Internet - Content industry. Angi (ANGI), another stock in the same industry, closed the last trading session 4.8% higher at $4.77. ANGI has returned -14.5% in the past month.

Angi's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to -$0.06. Compared to the company's year-ago EPS, this represents no change. Angi currently boasts a Zacks Rank of #3 (Hold).


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