Shares of Airbnb Inc (NASDAQ:ABNB) declined by 7.69% to $147.75 in the premarket session on Thursday and continued to tank after the house-rental company reported first-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways. JPMorgan analyst Doug Anmuth reiterated a Neutral rating, while raising the price target from $140 to $145. Goldman Sachs analyst Eric Sheridan maintained a Sell rating, while lifting the price target from $123 to $130. BMO Capital Markets analyst Brian Pitz reaffirmed a Market perform rating, while raising the price target from $135 to $151. Piper Sandler analyst Thomas Champion maintained a Neutral rating, while lifting the price target from $145 to $155. Wedbush analyst Scott Devitt reiterated a Neutral rating and price target of $160. JMP Securities analyst Nicholas Jones reaffirmed a Market Perform rating on the stock. KeyBanc analyst Justin Patterson maintained a Sector Weight rating on the stock. […]

We cut our 12-month target price to $170 from $188, on an above-peer P/E of 32x our 2025 view. We lift our 2024 EPS view to $4.67 from $4.61 and cut 2025’s to $5.30 from $5.36. ABNB posted Q1 adj. EBITDA of $424M vs. $262M, beating the $326M consensus. Revenue rose 18%, underpinned by a 12% increase in GBV. Top-line strength was driven by a 10% rise in Nights/Experiences booked to $133M, reflecting sustained vigor in travel demand and the favorable timing of Easter. Revenue was further driven by higher take rates and steady supply growth of 17%. Geographically, performance was mixed, with NA and EMEA remaining stable, while Latin America and Asia Pacific exhibited strong bookings growth of 19% and 21%, respectively. Looking ahead, we anticipate a moderation in nights growth across the industry, but expect ABNB to gain market share through new offerings like Icons, Group Trips, and

Airbnb’s (ABNB) revenue growth is likely to accelerate in the second half of this year, though higher marketing expenses are likely to affect profitability, Wedbush said in a note Thursday. The firm said a “modestly higher” marketing expense, which is one of the reasons behind the company’s lower-than-expected EBITDA guidance for Q2, is likely to persist through yearend. Airbnb’s Q2 revenue guidance of $2.68 billion to $2.74 billion is also seen as modestly below analyst estimates and implying slower-than-expected room night growth and slight margin compression, it said. “We think the room night guidance may ultimately prove conservative and note that bookings in [Q2] are likely back-half weighted and build through the quarter into the beginning of the peak summer travel season,” Wedbush said. According to Wedbush, the company is seeing bookings for stays in Q3 outpacing last year, resulting in a backlog that is expected to drive accelerating revenue