Airbnb Stock Plummets As JPMorgan Analyst Praises 'Solid Q1, Stable Q2, Acceleration In Q3'
Portfolio Pulse from Priya Nigam
Airbnb Inc (NASDAQ:ABNB) shares fell 7.69% in premarket trading after reporting Q1 results, despite positive analyst reviews. JPMorgan raised its price target to $145, citing solid Q1 and expected acceleration in Q3. Goldman Sachs and other analysts also raised their price targets but noted concerns about Q2 guidance and margin pressures. Airbnb's Q1 performance exceeded expectations with $2.14 billion in revenue and $424 million in adjusted EBITDA. Analysts highlighted strong bookings and revenue growth, but some expressed concerns over Q2 guidance and margin compression in 2024.
May 09, 2024 | 2:54 pm
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Airbnb's stock fell 7.69% premarket after Q1 earnings, despite exceeding revenue expectations and positive analyst outlooks for Q3. Concerns over Q2 guidance and future margin pressures may impact investor sentiment.
The decline in Airbnb's stock price, despite outperforming Q1 expectations and receiving higher price targets from analysts, suggests investor concerns over near-term guidance and long-term margin pressures. The mixed analyst outlook, highlighting both strengths and potential weaknesses, may contribute to short-term volatility in the stock price.
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IMPORTANCE 90
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