Is Airbnb ‘Reinventing’ Itself With AI? 11 Analysts Deep Dive Into Q4 Results, Outlook



Shares of Airbnb Inc (NASDAQ: ABNB) tanked in early trading on Wednesday, after the company reported upbeat revenues for the fourth quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

DA Davidson On Airbnb

Analyst Tom White downgraded the rating from Buy to Neutral, while keeping the price target unchanged at $145.

Airbnb reported “solid” fourth-quarter results, with “decent” upside to revenues and adjusted EBITDA, White said in a note.

“Management’s outlook commentary for 1Q and CY’24 suggests that this year may reflect a more normalized room night growth environment for ABNB however, as well as the potential for some modest Y/Y EBITDA margin compression due to long-term growth investments in areas like deeper International market penetration, marketing, and AI/platform expansion,” the analyst added.

Piper Sandler On Airbnb

Analyst Thomas Champion reiterated a Neutral rating, while lifting the price target from $136 to $145.

Airbnb reported “another impressive” quarter, with gross booking value (GBV) and EBITDA margins around 3% and 400 basis points higher than expected, Champion said.

“Offsetting the positive 4Q, Nights growth should slip to HSD in 1Q given Easter timing and a tough y/y compare,” the analyst wrote. He added, however, that EBITDA margins could once again approach 35% in 2024.

Wedbush On Airbnb

Analyst Scott Devitt reaffirmed a Neutral rating while raising the price target from $150 to $160.

Despite strong fourth-quarter results, the company’s guidance for the first quarter reflects room night growth “modestly below consensus,” Devitt stated. He added that the 2024 guidance for adjusted EBTIDA margin of at least 35% is below the consensus estimate of around 37%.

“In addition to ongoing international expansion, Airbnb is investing in products and services beyond its core, with potential new product launches that could contribute to bookings growth as well as additional services that could deepen platform monetization and drive incremental take rate growth,” the analyst said.

RBC Capital Markets On Airbnb

Analyst Brad Erickson reiterated a Sector Perform rating, while lifting …

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