Airbnb (ABNB) is facing a greater impact from US headwinds than its competitors due to its higher exposure and lower growth rate, RBC Capital Markets said in a Friday note.
The company's business seems to lack enough diversification to offset the US headwinds, and its comparable nights growth could be marked at half of its competitor's growth rates, RBC analysts said.
The analysts said that they are not confident that new products, which are coming out with Airbnb's May 13 release, can drive the necessary earnings upside to make up for the smaller growth in nights. Revamped experiences are likely to be the focus, but they said that promoted listings remain the biggest long-term potential opportunity.
On the plus side, the company's supply growth is back to a healthier 8% level and expansion markets grew two times the core growth, with Brazil being the biggest contributor, the analysts said.
RBC maintained the company's stock rating at sector perform and reduced the price target to $140 from $160.
Price: 123.89, Change: -0.12, Percent Change: -0.10
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。