1. $Airbnb, Inc.(ABNB)$ Jumps on S&P 500 Inclusion.
2. What Will Drive $Airbnb, Inc.(ABNB)$ Price Higher？
Business: $Airbnb, Inc.(ABNB)$ is an U.S. American corporation operating an online marketplace for short- and long-term homestays and experiences. The platform allow house and condo owners turn their properties into short-term rentals. The idea has hatched plenty of competitors. Even large hotel chains offer similar properties in addition to their standard lodging
Earnings: $Airbnb, Inc.(ABNB)$’s EPS ballooned 75% higher vs. a year earlier, marking the fifth quarter in a row of robust profit growth. However, sales picked up 18% to $2.48 billion. The size of sales increases slowed for the sixth straight quarter.
Valuation: As 2023-09-05, $Airbnb, Inc.(ABNB)$'s share price is $142.29. Airbnb's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2023 was $3.43. Therefore, Airbnb's PE Ratio for today is $41.48.
Target Price From Tiprank: Based on 31 Wall Street analysts offering 12 month price targets for $Airbnb, Inc.(ABNB)$ in the last 3 months. The average price target is $149.81 with a high forecast of $185.00 and a low forecast of $105.00. The average price target represents a 5.28% change from the last price of $142.29.
YTD 2023: $Airbnb, Inc.(ABNB)$ has experienced a 3-month gain of 11.3%. The YTD 2023 is 66.62%.
3. More Discussions on $Airbnb, Inc.(ABNB)$
Oliver Kell, 2020 US Investing Champion, shared on X platform: $Airbnb, Inc.(ABNB)$ Weekly/Daily/65 Min-Like the weekly pullback area, similar to INMD, inside bar on the daily....if it can go outside could be worth a shot. Flag on the 65 Min with the 5/10EMAs curling and would be trading back through the 20EMA. A short term negative is this unfilled gap at 134.15 up to 136. Would need to assess that level if got there.
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@Elliottwave Forecast: The weekly chart below shows the $Airbnb, Inc.(ABNB)$ price is showing a nest and a new bullish cycle in progress. Airbnb Stock Nesting before Acceleration Higher.
Firstly, initial rally from IPO in blue wave (I) of super cycle degree has ended in February 2021 by printing the all-time highs at $219.94.
Secondly, correction lower in blue wave (II) has found bottom in December 2022 at $81.91 lows.
Hereby, it shows an Elliott wave regular flat pattern being 3-3-5 structure. Also, red wave c of flat has reached 122.02-66.04 equal legs extension area based on the length of red wave a.
From the December 2022 lows, new cycle in blue wave (III) has started. Break above $219.94 will confirm that. Within blue wave (III), one can see two nests in black waves ((1))-((2)) and blue waves (1)-(2). Soon, acceleration higher should take place within blue wave (3) of black wave ((3)). Hereby, black wave ((3)) can see following targets: $166, $205, $229 and even higher. Investors and traders can be looking to buy short term pullbacks in 3, 7 swings expecting more upside. The target for blue wave ((III)) is towards 300-435 area and even beyond in the long run.
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4. Question for Tigers
How do you like the $Airbnb, Inc.(ABNB)$?
Do you think $Airbnb, Inc.(ABNB)$ will ascend more under travel rebound in summer?
Any other stocks are shaping the same pattern?
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Comments
$Airbnb, Inc.(ABNB)$
First and foremost, ABNB's entry into the S&P 500 is a testament to the company's stature and market presence. Being part of this prestigious index not only elevates its prestige but also makes it more accessible to a broader range of investors. This inclusion also means that ABNB will be included in various index funds and exchange-traded funds (ETFs) that track the S&P 500 $SPDR S&P 500 ETF Trust(SPY)$
However, it's worth noting that historical data suggests that the initial price gains following inclusion in major indices tend to be short-lived. According to research, the boost in stock prices typically fades away after approximately 45 days. This phenomenon is something investors should keep in mind when considering the potential impact of ABNB's S&P 500 inclusion on its stock price.
Despite the potential short-term nature of the gains, ABNB's performance in 2023 has been impressive. The stock has already seen an increase of around 68% year-to-date, which can partially be attributed to its strong position in the travel and short-term rental market.
Looking ahead, the summer travel rebound presents a favorable backdrop for ABNB's growth. As travel restrictions continue to ease, and consumer confidence in travel returns, the demand for short-term rentals and unique travel experiences offered by Airbnb is expected to rise. This surge in demand could translate into higher revenues and potentially drive ABNB's stock price higher.
It's important to note that ABNB's growth potential and stock performance should not solely rely on pattern recognition. While technical analysis tools like these can provide insights, they should be used in conjunction with fundamental analysis and other indicators.
In conclusion, $Airbnb, Inc.(ABNB)$ is in the spotlight due to its S&P 500 inclusion and strong performance in 2023. The summer travel rebound could provide further tailwinds for the company's growth. However, investors should be aware of the potential short-lived nature of the gains following index inclusion and consider a well-rounded investment strategy that incorporates both technical and fundamental analysis.
Nice article on Airbnb. [Happy] [Happy] [Happy] [Happy] [Happy] Personally, I am $Airbnb, Inc.(ABNB)$
Moreover, I think ABNB’s ongoing investments in marketing initiatives, innovation, and introduction of new features combined with international expansion will continue to improve its business. [Bless] [Bless] [Bless] [Bless] [Bless]
Last but not least, the inclusion in the S&P 500 can increase the name recognition [Doubt] [Doubt] [Doubt] and accessibility of a stock and place it in ETFs and index funds that track the index. [OMG] [OMG] [OMG] [OMG] [OMG]
How do you think?
@koolgal @rL @icycrystal @Universe宇宙 @b1uesky @Aqa @GoodLife99