On August 12, Airbnb, Inc. fell 3.03% in after-hours trading, trading at $185.0 per share, with turnover of $19.75 million.
On the news front, Phillip Capital downgraded Airbnb's rating while raising its target price to $158, implying approximately 14% downside from Monday's closing price. Analyst Paul Chew noted that although the company's second-half revenue and PATMI are expected to continue growing, the current share price is overvalued. The stock's P/E ratio has reached 30.9x, exceeding its two-year historical average plus one standard deviation level of 29.6x, indicating a valuation premium.
The downgrade comes after Airbnb surged 17% following its Q2 earnings report, which showed revenue rising 17% year-over-year to $3.61 billion, EPS of $1.37 beating estimates by 9.6%, and Q3 revenue guidance of $4.69-4.77 billion exceeding the consensus estimate of $4.61 billion. With year-to-date gains exceeding 36%, short-term profit-taking pressure has intensified.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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