What's Going On With Airbnb Stock Today?

Airbnb Inc ABNB shares are trading lower Wednesday morning after the company reported third-quarter financial results.

Airbnb reported third-quarter revenue of $2.88 billion, which beat average analyst estimates of $2.84 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.79 per share, which beat average estimates of $1.45 per share. 

Airbnb noted that guest demand remains strong and it's seeing strong host growth as well. 

“Our Q3 results demonstrate that Airbnb continues to drive growth and profitability at scale. And regardless of continued macro uncertainties, we believe we’re well positioned for the road ahead,” the company said in a letter to shareholders.

Airbnb expects fourth-quarter revenue to be between $1.8 billion and $1.88 billion versus average estimates of $1.85 billion. 

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Analyst Assessment: Several analysts adjusted price targets on the stock following Airbnb's quarterly results.

• Keybanc analyst Justin Patterson maintained Airbnb with an Overweight and lowered the price target from $145 to $142.
• Piper Sandler analyst Thomas Champion maintained Airbnb with a Neutral and lowered the price target from $121 to $110.
• Goldman Sachs analyst Eric Sheridan maintained Airbnb with a Sell and lowered the price target from $100 to $98.
• Credit Suisse analyst Stephen Ju maintained Airbnb with a Neutral and lowered the price target from $165 to $154.
• Morgan Stanley analyst Brian Nowak maintained Airbnb with an Equal-Weight and raised the price target from $105 to $110.

ABNB Price Action: Airbnb has a 52-week high of $191.73 and a 52-week low of $86.71.

The stock was down 6.46% at $102 at time of publication.

Photo: Peggy from Pixabay.