Wall Street Reacts As Airbnb Eyes Growth Amid US Slowdown

Airbnb Inc (NASDAQ:ABNB) reported its first-quarter earnings after the market close on Thursday. Here are the comments from various analysts about the homestay provider’s performance.

J.P. Morgan analyst Doug Anmuth reiterated a Neutral rating on the shares and raised the price forecast from $115.00 to $120.00.

The analyst said Airbnb's first-quarter performance and second-quarter outlook were mixed, but the company reaffirmed its 2025 adjusted EBITDA margin target, offering stability amid macro uncertainties.

Management highlighted strong growth in emerging markets and teased new business updates, including a relaunch of its Experiences segment, set for May 13.

While the launch’s near-term financial impact is expected to be limited, the analyst opined that it is key for long-term growth.

Goldman Sachs analyst Eric Sheridan reiterated a Neutral rating and raised the price forecast from $131.00 to $139.00.

Airbnb posted strong first-quarter FY25 results, with revenue hitting the top of its guidance range and adjusted EBITDA beating estimates by 20%, the analyst noted.

Despite global travel uncertainty, the company sees healthy demand in expansion markets like Latin America and Asia-Pacific.

Management reaffirmed its focus on core service improvements, global growth, and new business launches, with a clearer roadmap expected after its May 13 Summer Product update.

D.A. Davidson analyst Tom White reiterated a Buy rating on the shares with a price forecast of $155.00.

While U.S. demand shows some softness in longer-lead bookings Airbnb continues gaining share, said the analyst.

Its diverse inventory, brand strength, and flat pricing enhance appeal amid rising hotel costs. International expansion remains robust, with markets like Brazil growing significantly faster than core regions.

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Cantor Fitzgerald‘s Deepak Mathivanan reiterated an Underweight rating on the shares and lowered the price forecast from $101.00 to $100.00.

Airbnb's first-quarter results met expectations on bookings and room nights, with EBITDA beating by $60 million.

The company expects slight second-quarter deceleration due to April U.S. softness and flat ADRs but reaffirmed its FY25 EBITDA margin target of at least 34.5%.

New product and market expansion plans remain on track. However, the price forecast has been lowered due to macro uncertainty and a potential 2H slowdown.

RBC Capital Markets analyst Brad Erickson reiterated a Sector Perform rating on the shares and lowered the price forecast from $160.00 to $140.00.

According to the analyst, Airbnb faces mounting U.S. headwinds, more than peers like Booking, due to higher exposure and lower growth.

While supply growth has improved and margins remain intact, the business lacks sufficient diversification to offset domestic softness.

The analyst noted concerns include slower comparable night growth, defensive signals around hotels and loyalty, and potential margin strain if marketing spending rises.

Benchmark analyst Daniel L. Kurnos reiterated a Buy rating and lowered the price forecast from $178.00 to $155.00.

He said the first-quarter results were close to expectations with revenue and EBITDA beats, though U.S. market softness and comparison with competitors dampened perception.

Airbnb's upcoming Summer Release, including the relaunch of Experiences and potential hotel inventory additions, highlights growth opportunities beyond its maturing core.

However, skepticism remains about whether these moves reflect strength or desperation as competition intensifies.

Wedbush analyst Scott Devitt downgraded the company from Outperform to Neutral and lowered the price forecast from $150.00 to $135.00.

Airbnb beat first-quarter expectations, with revenue and adjusted EBITDA ahead by ~1% and ~16%, respectively. However, second-quarter guidance disappointed, as room night growth is expected to decelerate, missing Street estimates.

Citizens analyst Nicholas Jones reiterated a Market Perform rating on the shares with a price forecast of $124.00.

Airbnb delivered first-quarter results in line with or slightly ahead of expectations, with revenue at $2.27 billion and adjusted EBITDA beating by $55 million. However, second-quarter guidance showed softer-than-expected bookings growth.

While U.S. demand, especially for long-lead bookings, showed some weakness, international markets like LatAm and APAC are growing rapidly, with non-core markets expanding at over twice the rate of core regions.

Airbnb is set to launch new business initiatives in 2025, backed by $200M—$250M in investment, which could potentially impact margins in the short term.

Price Action: ABNB shares traded lower by 0.28% at $123.66 at last check on Friday.

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