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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Airbnb Inc. (NASDAQ: ABNB) shares tumbled more than 6% on Wednesday after the vacation rental company issued a <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-05-09-2024/card/airbnb-stock-slides-as-sales-guidance-disappoints-investors-hzPBsPILLHIlWUkwhF5a" target="_blank" aria-label="weaker-than-expected outlook (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">weaker-than-expected outlook</a> for the current quarter.</p> 
<p>The stock had gained about 9.34% over the past 12 months. For the quarter ending March 2024, Airbnb had reported an <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a> of $0.41, beating expectations by approximately 75%.</p> 
<h3 id="airbnb-stock-price-update">Airbnb Stock Price Update</h3> 
<p>Airbnb shares fell over 6% since the market opened at the time of writing, trading at $147. The stock finds a zone of support between $141 and $148 from the <a href="https://tokenist.com/investing/moving-average/" rel="dofollow" class="deco-link">200-day moving average</a> and price action dating back to September last year.</p> 
<p>However, failure to hold above this <a href="https://tokenist.com/investing/technical-analysis-stocks/" rel="dofollow" class="deco-link">support zone</a> opens the door for Airbnb’s stock price to potentially decline to lower support around $126.</p> 
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<h3 id="why-airbnb-stock-dipped-today">Why Airbnb Stock Dipped Today</h3> 
<p>Airbnb reported first-quarter revenue of <a href="https://news.airbnb.com/airbnb-q1-2024-financial-results/" target="_blank" aria-label="$2.14 billion (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">$2.14 billion</a>, up 18% year-over-year, and adjusted earnings per share of $0.41, beating analyst estimates of $2.06 billion in revenue and $0.24 EPS. <br><br>Despite the strong results, Airbnb’s second-quarter revenue forecast of $2.68-$2.74 billion, representing 8-10% growth, had its midpoint below the $2.74 billion Wall Street consensus, disappointing investors.</p> 
<p>The company cited headwinds to second-quarter results from the timing of Easter, an extra leap-year day in the first quarter, and foreign exchange fluctuations. <br><br>Jefferies maintained a Hold rating and $150 price target on Airbnb stock, stating that the results failed to ease growing fears of slowing growth. Morgan Stanley kept an Underweight rating and $120 target as room night growth continues to underwhelm.</p> 
<p>Bank of America acknowledged Airbnb’s strong first-quarter performance but noted that the company’s outlook reflects slowing travel growth. As a result, BofA cut its price target on Airbnb stock to $160 from $168.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you see Airbnb as a solid stock to hold? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/airbnb-shares-slide-over-6-on-weaker-than-expected-q2-outlook/">Airbnb Shares Slide Over 6% on Weaker-Than-Expected Q2 Outlook</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Airbnb Shares Slide Over 6% on Weaker-Than-Expected Q2 Outlook

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