Goldman Sachs analyst Eric Sheridan upgraded the rating on Airbnb (ABNB – Research Report) to a Hold today, setting a price target of $153.00.
Eric Sheridan’s rating is based on Airbnb’s solid performance in the fourth quarter of 2024, where the company demonstrated robust gross bookings and revenue figures that surpassed both Goldman Sachs’ expectations and general market predictions. Furthermore, Airbnb’s ability to deliver a significant beat on adjusted EBITDA further supports the company’s financial robustness.
While Airbnb has articulated a promising adjusted EBITDA margin floor for 2025, which could potentially drive growth, Sheridan notes that the visibility of new investment initiatives’ impact on growth and margins still requires time to develop. Given these factors, he perceives a balanced risk/reward from the current trading levels, leading to an upgrade from a Sell to a Neutral rating, with an increased 12-month price target from $110 to $153.
In another report released on February 12, Bank of America Securities also maintained a Hold rating on the stock with a $151.00 price target.
Based on the recent corporate insider activity of 170 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABNB in relation to earlier this year.