Needham analyst Bernie McTernan has reiterated their neutral stance on ABNB stock, giving a Hold rating today.
Bernie McTernan has given his Hold rating due to a combination of factors influencing Airbnb’s current market position. Despite Airbnb’s first-quarter results surpassing expectations, McTernan has adjusted the fiscal year 2025 EBITDA estimates slightly downward. This adjustment reflects the challenges in the North American travel market, where consumer uncertainty is affecting longer-term booking windows.
McTernan also notes that while there have been instances of bookings rebounding in the past, the current macroeconomic environment makes such a recovery less likely, which would otherwise be a positive deviation from their forecast. Additionally, anticipation surrounds Airbnb’s upcoming product launch, which is expected to emphasize experiences. If successful, this launch could potentially drive Airbnb’s gross booking value back to double-digit growth, but until then, McTernan maintains a cautious outlook.
McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, eBay, and Beyond Inc. According to TipRanks, McTernan has an average return of 1.5% and a 45.91% success rate on recommended stocks.
In another report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $146.00 price target.