Airbnb price target raised to $175 from $155 at Wedbush

Wedbush raised the firm’s price target on Airbnb (ABNB) to $175 from $155 and keeps an Outperform rating on the shares. The firm notes Airbnb reported strong Q4 results and provided an in-line outlook for Q1. Guidance for Q1 was mixed, calling for room night growth of approximately +8.5% year-over-year, below Street’s estimates by 30bps, while management expects revenue growth of +4% to +6% year-over-year. That said, Airbnb observed strong underlying demand trends to exit 2024 and through the start of the year, with growth negatively impacted by several headwinds, including FX risk and the calendar shift of Easter and Leap Day, Wedbush adds.