As previously reported, Wedbush analyst Scott Devitt downgraded Airbnb (ABNB) to Neutral from Outperform with a price target of $135, down from $150. Airbnb reported “healthy” Q1 results, but the company’s Q2 outlook was below expectations, notes the analyst, who also says forward guidance was “disappointing relative to expectations” and that management commentary suggests emerging evidence of a slowdown in U.S. travel.
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Read More on ABNB:
- Cautious Outlook: Airbnb’s Market Challenges and Potential Growth Catalysts
- Airbnb price target raised to $104 from $100 at Wells Fargo
- Airbnb downgraded to Neutral from Outperform at Wedbush
- Airbnb price target lowered to $146 from $170 at BofA
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