Airbnb price target raised to $129 from $127 at Wells Fargo

Wells Fargo raised the firm’s price target on Airbnb to $129 from $127 and keeps an Underweight rating on the shares. Near-term nights momentum improved, and the firm anticipates Q3 commentary suggesting relatively stable nights growth from Q2 to Q3, with take-rate tailwinds from the Summer Olympics, the analyst tells investors in a research note. However, while core business trends are stable, the firm is less optimistic about co-hosting contribution in the second half and believes margins will remain pressured in 2025.