Airbnb (NASDAQ: ABNB) stock continued to be dominated by sellers today, extending a week of losses by just over 4%, retracing back to levels prior to the price spike in the wake of the company’s improved Q3 results. The company bounced back with vigor as travel started to return, but it didn’t last too long as profit-takers stepped, hindered further by yesterday's overall analyst ratings.
Shares of Airbnb have been assigned an average rating of “Hold” from more than forty-one brokerages that are currently covering the company. Two analysts issued a “sell” recommendation, eighteen decided on “hold” and twenty were still bullish on the company with a “buy” rating. The average 12-month price target for Airbnb is $187.19.
Wall Street has mixed feelings regarding the popular company, sparking a further 4% sell-off in Friday’s market open. Yet it is difficult to overlook the sheer potential of Airbnb as a reputable market leader in its respective field. The company has scaled massively since its inception and now stands proud with a market capitalization of around $113M.
Q3 was eye-opening for cautious Airbnb investors, where the company earned a record $12.8B in income, up 27% from Q319 – reassuring of Airbnb’s solid foundations in the travel industry.
Although analysts have issued a “hold” rating, many still expect revenue to climb to $13.6B in 2025 from $5.8B this year. Still a dominant figure in the economy of travel, Airbnb still has a lot of potential for long-term growth. ABNB stock is currently trading at $170.74 with a daily loss of 5%.
