Bearish
Wells Fargo lowers Airbnb price target to $185 amid Q3 growth concerns
Wells Fargo has reduced its price target for Airbnb (ABNB) to $185, citing anticipated challenges in the third quarter, including macroeconomic headwinds and softer app trends. The firm forecasts an 11.8% growth in nights booked for Q3, slightly above consensus estimates, but notes a decline in global app growth and a negative year-over-year trend in August.
Key points
- Wells Fargo lowers price target to $185, citing Q3 growth concerns.
- Global app growth turned negative in August, with a 0.9% year-over-year decline.
- Site visits accelerated through Q3, partially offsetting negative app growth.
- Prolonged Middle East conflict expected to slightly impact EMEA bookings.
Sources
AI-generated from public news sources. Not financial advice.
