Of 42 brokerages covering Airbnb stock, 21 have a Hold rating and 17 have a Buy or Strong Buy rating. At a share price of around $120.00, the upside potential based on a median price target of $144.00 is 20%. At the high price target of $190.00, the upside potential is 58.3%.
First-quarter revenue is forecast at $1.79 billion, down 6% sequentially but 18.5% higher year over year. Airbnb is expected to post EPS of $0.14, down 70% sequentially and up from a one-cent loss year over year. For the full 2023 fiscal year, analysts are looking for EPS of $3.55, up 22.2%, on revenue of $9.57 billion, up 13.9%.
Airbnb stock trades at 33.7 times expected 2023 EPS, 28.4 times estimated 2024 earnings of $4.22 and 25.4 times estimated 2025 earnings of $4.72 per share. Its 52-week range is $81.91 to $144.63. The company does not pay a dividend, and total shareholder return over the past year is negative 16.21%.
Luminar
Lidar maker Luminar Technologies Inc. (NASDAQ: LAZR) began trading as a public company in December 2020, and after an initial spurt, the stock has dropped nearly 74%. Since the beginning of the year, shares have added more than 22%.
Luminar makes lidar (light detection and ranging, or laser-light) systems for self-driving cars and trucks. A recent surge in demand from China for lidar-equipped vehicles has caused the company to expand its manufacturing footprint in Taiwan with partner TPK. Except for Tesla, lidar is the preferred sensor technology for self-driving features. It is still early days in the market, though, and investor patience is likely to be rewarded.
Analysts from 12 brokerages cover Luminar, with eight having a Buy or Strong Buy rating and three with Hold ratings. At a share price of around $6.00, the stock’s potential upside based on a median price target of $12.00 is 100%. At the high target of $24, the upside potential is 300%.
The company is expected to report sales of $11.94 million for the first quarter, up 7.3% sequentially and about double year over year. An expected loss per share of $0.21 is five cents better than the prior quarter’s loss and 5 cents worse than the loss per share in 2022. For the full year, analysts are forecasting a loss per share of $0.74, better than last year’s loss per share of $0.78, on sales of $88.71 million, up 118% year over year.
Luminar is not expected to post a profit in 2023, 2024 or 2025. The stock trades at a 2023 enterprise value to sales multiple of 27.5, a multiple of 9.0 for 2024 and a multiple of 4.1 for 2025. The 52-week range is $3.91 to $11.35. The company does not pay a dividend, and total shareholder return for the past year is negative 45.66%.
Occidental Petroleum
Low prices have taken their toll on Occidental Petroleum Corp. (NYSE: OXY), just as they have on other oil and gas companies. Over the past 12 months, Oxy’s shares have lost about 2.5%. Three months ago, shares were up 53% for the 12-month period ending in February. Crude oil prices have lost more than 26% in the past 12 months, and natural gas prices have fallen by nearly 69%.
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