Airbnb Inc. (ABNB) PT Lowered to $180 at Stifel After Room Night Guidance was Just 'In-Line'

May 4, 2022 7:04 AM EDT
Get Alerts ABNB Hot Sheet
Price: $91.41 +2.62%

Rating Summary:
    15 Buy, 20 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 13 | New: 10
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Stifel analyst Scott Devitt lowered the price target on Airbnb Inc. (NASDAQ: ABNB) to $180.00 (from $205.00) after the company reported strong results with GBV, revenue, and adj. EBITDA ahead of estimates. However, guidance for 2Q indicated room nights and experiences booked was just in line with expectations.

The analyst reiterated a Hold rating, stating "For FY:22, Airbnb now expects modest y/y adj. EBITDA margin expansion, an improvement versus prior guidance which called for flat y/y margins. We are modestly raising our estimates reflecting current bookings momentum and expectations for margin expansion, though we remain cautious on share performance from here given (1) uncertain ADR trends in 2H/2023, which will likely limit upside to GBV growth and (2) recent multiple compression at the group level that may signal investor enthusiasm related to the recovery in travel is beginning to wane. We remain Hold rated and our PT moves to $180."

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