DA Davidson lowered the firm’s price target on Airbnb to $125 from $145 and keeps a Neutral rating on the shares. The company reported mixed Q2 results with nights and gross bookings coming in ligh and disappointing Q3 guidance that reflects shorter booking lead times globally and some signs of slowing demand from U.S. guests, the analyst tells investors in a research note. Airbnb’s Q3 EBITDA will approximate last year’s $1.8B vs. the Street consensus of $2.0B as the company continues to invest in longer-term growth initiatives as well as ramps marketing expense, the firm added.
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