Goldman Sachs analyst Eric Sheridan maintained a Hold rating on Airbnb on September 9 and set a price target of $137.00.
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Eric Sheridan has given his Hold rating due to a combination of factors that reflect both opportunities and challenges for Airbnb. The company is making strides in expanding its market reach, particularly in areas where nights booked are growing at a faster rate than in core markets. This indicates potential for future growth, yet it also requires significant investment to scale the platform beyond its core offerings.
Additionally, while Airbnb is capitalizing on trends such as group and family travel, longer stays, and domestic travel, these trends are normalizing. The company is also focusing on making hosting easier and leveraging large events to boost supply and demand. However, the need for continued investment and the evolving nature of travel trends contribute to the Hold rating, suggesting a balanced outlook on the stock’s potential performance.
In another report released yesterday, Bank of America Securities also maintained a Hold rating on the stock with a $146.00 price target.