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Why Are Airbnb Shares Trading Lower Today
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Why Are Airbnb Shares Trading Lower Today
Oct 2, 2024 11:48 PM

Airbnb Inc. ( ABNB ) shares are seeing downward pressure Monday, possibly stemming from Carnival Corporation’s Q3 earnings report. While Carnival showed strong year-over-year growth in revenue and record operating income, its forth-quarter adjusted EPS guidance came in lower than expected. Here’s what you need to know.

Carnival's Q3 Earnings Recap:

Adjusted EPS of $1.27 beat the consensus estimate of $1.16.

Revenue of $7.90 billion grew 15.2% year-over-year, surpassing expectations of $7.83 billion.

Operating income surged by 34% to $2.2 billion, while adjusted EBITDA rose 25% to $2.8 billion.

Outlook: Carnival's Q4 adjusted EPS guidance is 5 cents, significantly below estimates.

What Else:

Analyst Sentiment: Cantor Fitzgerald’s Deepak Mathivanan reiterated an Underweight rating on Airbnb ( ABNB ) with a $94 price target.

Rising Short Interest: Airbnb’s short interest has increased by 8.25% recently, now totaling 14.31 million shares sold short or 3.28% of its float.

ABNB Price Action: Airbnb ( ABNB ) shares were down 1.41%, trading at $126.44 at the time of writing, according to Benzinga Pro.

See Also:

Corcept Therapeutics’ Commercial Drug Korlym Sales Impress Despite Increased Competition, Analyst Boosts Price Forecast

Image via Shutterstock.

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