PhillipCapital Lowers Airbnb Rating Despite Strong Earnings

Deep News08-12 00:40

Focusing on U.S. stock results for the second quarter of fiscal 2026, the vacation rental platform's latest earnings report surpassed expectations, driving its share price higher. However, PhillipCapital downgraded its rating on Airbnb, Inc. on Tuesday.

The firm simultaneously raised its price target to $158, which still implies an approximate 14% downside from Monday's closing price. Analyst Paul Chew noted that while Airbnb's revenue and profit after tax and minority interests (PATMI) are expected to continue growing in the second half of the year, the current stock valuation is already stretched.

"The recent rally has pushed up ABNB's valuation, with the stock's price-to-earnings ratio reaching 30.9 times, which is above the 29.6 times level corresponding to one standard deviation above its two-year historical average. This indicates a valuation premium." The stock has gained more than 36% year-to-date.

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