Airbnb's Decelerating Growth and Elevated Risks - Analyst Sounds Alarm, Downgrades Stock
Portfolio Pulse from Anusuya Lahiri
Keybanc analyst Justin Patterson has downgraded Airbnb Inc (NASDAQ: ABNB) from Overweight to Sector Weight, citing concerns over decelerating growth and elevated risks. Patterson believes that Airbnb's margins have peaked and revenue growth could slow down. He also lowered his EBITDA forecasts for 2023, 2024, and 2025 by 1%, 8%, and 5% respectively, reflecting more modest bookings growth. Following the downgrade, ABNB shares traded lower by 5.28%.
October 03, 2023 | 4:40 pm
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Airbnb's stock has been downgraded by Keybanc analyst Justin Patterson due to concerns over decelerating growth and elevated risks. This has led to a 5.28% drop in ABNB shares.
The downgrade by Keybanc analyst Justin Patterson is based on concerns over decelerating growth and elevated risks for Airbnb. This negative sentiment has directly impacted Airbnb's stock, leading to a 5.28% drop in share price. Given the analyst's influence and the specific concerns raised, it's likely that this news will continue to negatively impact Airbnb's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100