Airbnb Stock Plummets As JPMorgan Analyst Praises ‘Solid Q1, Stable Q2, Acceleration In Q3’
Shares of Airbnb Inc (NASDAQ:ABNB) declined by 7.69% to $147.75 in the premarket session on Thursday and continued to tank after the house-rental company reported first-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- JPMorgan analyst Doug Anmuth reiterated a Neutral rating, while raising the price target from $140 to $145.
- Goldman Sachs analyst Eric Sheridan maintained a Sell rating, while lifting the price target from $123 to $130.
- BMO Capital Markets analyst Brian Pitz reaffirmed a Market perform rating, while raising the price target from $135 to $151.
- Piper Sandler analyst Thomas Champion maintained a Neutral rating, while lifting the price target from $145 to $155.
- Wedbush analyst Scott Devitt reiterated a Neutral rating and price target of $160.
- JMP Securities analyst Nicholas Jones reaffirmed a Market Perform rating on the stock.
- KeyBanc analyst Justin Patterson maintained a Sector Weight rating on the stock.
Check out other analyst stock ratings.
JPMorgan: “Solid 1Q, Stable 2Q, Acceleration in 3Q,” Anmuth wrote in a note. Airbnb reported strong first-quarter results, with revenues of $2.14 billion, which exceeded expectations by 4%, and adjusted EBITDA of $424 million and margin of 19.8%, he said.
“The 2Q guide was a touch light vs. our/consensus expectations & did not have the acceleration in N&E hoped for by investors,” the analyst stated. While top-line trends remained stable in the second quarter, management expects revenue growth to accelerate in the third quarter, driven …
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