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Weak Outlook Overshadows Airbnb's Quarterly Win
ABNBAirbnb(ABNB) Schaeffers Research·2024-05-09 15:00

Despite first-quarter earnings and revenue beats, Airbnb Inc (NASDAQ:ABNB) stock is down 6% to trade at 148.51afterthecompanyissueda lacklusterfiscalsecond−quarteroutlook.Anearlier−than−usualEasterholidayandcurrencyexchangeratesovershadowedstrongdemandforinternationaltravel.Theresultsalreadydrewfourprice−targetcutsandtwohikes,withDeutscheBankadjustinglowerto148.51 after the company issued a lackluster fiscal second-quarter outlook. An earlier-than-usual Easter holiday and currency exchange rates overshadowed strong demand for international travel.The results already drew four price-target cuts and two hikes, with Deutsche Bank adjusting lower to 148 from $158. Analysts are already bearish on ABNB, with 25 of 36 firms in coverage sporting a "hold" or worse ...