Online accommodation Airbnb, Inc. (NASDAQ: ABNB) plans to report its second quarter results on August 2nd. The TipRanks website traffic tool shows the company to deliver solid Q2 results.
Airbnb website traffic data is encouraging
Using data from SEMrush Holdings (SEMR), the world’s largest website usage monitoring service, TipRanks’ website traffic tool provides insight into Airbnb’s performance this quarter.
Visits to airbnb.com increased 47.97% quarter-on-quarter, according to the tool.
Meanwhile, Airbnb’s website saw a 95.48% increase in monthly visits globally in June compared to the same period last year. Also year-to-date, his Airbnb website traffic has increased by 50.96% year-on-year.
As a result, the company’s increased website traffic implies a positive result for its second quarter results. See how website traffic can help you research your favorite stocks.
What drives traffic to Airbnb?
Airbnb is seeing steady improvement in both long-haul and cross-border travel as travel restrictions ease. In addition, the flexibility of travel plans with the work-from-home initiative has allowed people to travel at their own pace during the busy summer season.
In addition, our improved services continue to attract travelers looking for a comfortable stay to our website.
Company profile for the second quarter
Airbnb expects second-quarter revenue to be between $2.03 billion and $2.13 billion. Meanwhile, the company expects a higher share of gross book value (GBV) in the second quarter compared to the first quarter.
analyst’s estimate
Airbnb is expected to report earnings per share (EPS) of $0.45, compared to a loss of $0.11 per share reported in the same period last year.
As for earnings for the quarter, analysts expect earnings to be around $2.1 billion, representing a 61.5% growth from the previous year.
Wall Street view
Overall, the Wall Street community is cautiously optimistic about the stock, with a medium buy consensus rating based on 12 buys, 18 holds, and 1 sell. An ABNB average price target of $151.59 means the stock could rise 36.3% from current levels. The stock has fallen 23.6% over the past year.
Investors remain optimistic about Airbnb stock
TipRanks stock investor tool shows that top investors currently have a very positive stance on ABNB. Additionally, 11.5% of the top portfolios tracked by TipRanks have increased their exposure to ABNB stocks in the past 30 days.
final thoughts
The convenience and variety of services at Airbnb’s various locations have made Airbnb one of the leading travel portals. As a result, his increased website traffic amid the lifting of restrictions bodes well for the company’s impending second quarter results.
However, sensitivity to consumer prices amid a looming recession and high inflation could affect the company’s growth and have some impact on its future performance.
Read full disclosure
