Airbnb Analysts Cut Their Forecasts After Q3 Results
Portfolio Pulse from Lisa Levin
Airbnb reported better-than-expected Q3 results with revenue of $3.4 billion, beating the consensus estimate of $3.37 billion. However, the company issued a weak Q4 forecast, expecting revenue between $2.13 billion and $2.17 billion, against a consensus of $2.18 billion. Following the earnings announcement, analysts from Needham, Wedbush, and Morgan Stanley lowered their price targets on Airbnb. Airbnb shares fell 2.3% to trade at $116.69 on Thursday.
November 02, 2023 | 5:24 pm
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Airbnb's Q3 results beat estimates but the weak Q4 forecast and lowered price targets by analysts may negatively impact the stock.
Airbnb's better-than-expected Q3 results were overshadowed by a weak Q4 forecast and lowered price targets by analysts. This combination of factors led to a 2.3% drop in Airbnb's share price, indicating a negative short-term impact on the stock.
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