Airbnb price target lowered to $145 from $155 at Benchmark

Benchmark lowered the firm’s price target on Airbnb (ABNB) to $145 from $155 and keeps a Buy rating on the shares. With Booking (BKNG) going last in the order and only Expedia (EXPE) to compete with last night, Airbnb “managed to pull out their first relative win in several quarters with an all-around solid beat and guide,” the analyst tells investors. However, it was “not as if the numbers blew anyone away,” but it feels like Airbnb “managed to win the narrative battle” as growth sounds like it is improving steadily with new initiatives and it feels like investors “may actually be beginning to take Airbnb’s hotel foray more seriously,” the analyst added.