Airbnb Faces Downgrade as Analysts Predict Declining Prices
On November 12, 2024, Phillip Securities revised their outlook for Airbnb (XTRA:6Z1) from Neutral to Reduce.
The average one-year price target for Airbnb, as of October 22, 2024, is 120.73 €/share. Predictions vary, with a low of 74.02 € and a high of 187.57 €. This average target indicates a decline of 6.76% from the most recent closing price of 129.48 € / share.
Airbnb’s Projected Revenue Growth
Airbnb’s expected annual revenue stands at 11,263 million €, reflecting a growth of 3.90%. Additionally, the projected annual non-GAAP EPS is 4.05.
Institutional Investors’ Sentiment
A total of 1,979 funds and institutions are currently invested in Airbnb, which marks a decrease of 49, or 2.42%, from the prior quarter. The average portfolio weight dedicated to 6Z1 by all funds now sits at 0.34%, showing an increase of 11.75%. Institutional ownership rose by 2.77% over the last three months, reaching a total of 379,724,000 shares.
Capital World Investors holds 14,245,000 shares, accounting for 3.29% ownership of the company. This is a notable reduction from their previous holding of 18,117,000 shares, reflecting a decrease of 27.18%. Their allocation in 6Z1 has fallen by 28.79% over the last quarter.
Edgewood Management owns 13,582,000 shares, which is 3.14% of the company. This portfolio increased from their earlier holding of 12,439,000 shares, a rise of 8.42%. However, their weighting in 6Z1 decreased by 9.15% last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 12,555,000 shares, equating to 2.90% ownership, an increase from 11,716,000 shares previously, representing a growth of 6.68%. Nonetheless, their allocation in 6Z1 has decreased by 4.22% quarter-over-quarter.
The Vanguard 500 Index Fund Investor Shares (VFINX) holds 11,331,000 shares, or 2.62% ownership. This is up from 10,976,000 shares, marking a 3.13% increase, yet their portfolio allocation in 6Z1 fell by 10.17% in the last quarter.
Jennison Associates now owns 10,816,000 shares, representing 2.50% of Airbnb. This decreased from 13,164,000 shares, indicating a reduction of 21.72%. Their proportionate investment in 6Z1 declined sharply by 64.37% over the past quarter.
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This article was originally published by Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
