(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Airbnb with a price target lowered from 155 to 140 dollars, anticipating a negative reaction to the disappointing forecasts posted by the short-term housing rental platform, for the second quarter .
According to the broker, ‘the main concerns relate to the slowing growth of Nights & Experiences, an increase in marketing expenditure in the first half of the year and efforts to reduce prices in order to stimulate demand’.
“That said, Airbnb expects growth to accelerate in Q3 through a normalization of the booking window, easing of comparisons, and marketing/offer investments in the first half,” he said. .
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