Shares of Airbnb, Inc. (NASDAQ:ABNB) are trading higher Tuesday. The stock is seeing continued momentum following strong earnings and positive analyst revisions last week.

Upbeat Earnings Report Buoys Share Price

While the company missed earnings per share expectations, reporting $0.56 against an estimated $0.66, it surpassed revenue forecasts with $2.78 billion, compared to the anticipated $2.71 billion. This financial performance, coupled with positive reactions from analysts and strategic moves in the market, have contributed to the stock’s rise.

Analysts Get Bullish On AirBnB

Following the company’s quarterly results, multiple analysts upgraded the stock or raised price targets, which appears to be driving momentum in shares.

  • Evercore ISI Group analyst Mark Mahaney upgraded from in-line to outperform and maintained a price target of $145.
  • TD Cowen analyst Kevin Kopelman maintained a buy rating and raised the price target from $150 to $160.
  • Barclays analyst Trevor Young maintained an equal-weight rating and raised the price target from $120 to $122.
  • Wedbush analyst Scott Devitt reiterated a neutral rating and maintained a $130 price target.
  • Deutsche Bank analyst Lee Horowitz upgraded from a hold to a buy and announced a $154 price target.
  • BMO Capital analyst Brian Pitz maintained a market perform rating and raised the price target from $130 to $140.

Stock Down 20% Over Past Year

Over the past 12 months, Airbnb has seen a decline of 21.38%. The stock is currently trading at $125.75, which positions it significantly above its 52-week low of $99.88 but below the high of $163.93. This indicates that while the stock has recovered from its lowest annual points, it still has room to go before approaching its previous highs.

The technical indicators for Airbnb do not show significant movement in RSI or MACD, suggesting neutral momentum in the market. However, the stock is currently facing resistance at $138.50 and has support at $117.00. These levels are crucial for traders to watch, as a breakout or breakdown could signal future price direction.

ABNB Stock Continues To Climb

ABNB Price Action: Airbnb shares were up 3.91% at $126.09 at the time of publication on Tuesday, according to Benzinga Pro data.

Image: Shutterstock