Canaccord Genuity lowered its price target on Airbnb (NASDAQ:ABNB) to $180 from $190 while maintaining a Buy rating, ahead of the company’s upcoming first-quarter earnings report on May 1.
The firm anticipates mixed Q1 results for Airbnb, expecting gross bookings and revenue growth to slow by about six percentage points quarter-over-quarter. However, the analysts noted that much of this deceleration is tied to specific calendar effects like the Leap Day, the timing of Easter, and foreign exchange headwinds. Adjusting for these factors, Q1 revenue is still expected to grow between 10% and 12% year-over-year, roughly in line with the 11.8% increase seen in the fourth quarter.
Broader macro risks are also a concern. Canaccord pointed to emerging signs of tariff-related economic uncertainty impacting travel demand, with several major U.S. airlines recently withdrawing their full-year guidance. That said, a potential slowdown in international visitors to the U.S. may not significantly hurt Airbnb, as travelers might simply shift their bookings to other markets where Airbnb maintains strong supply.
Despite near-term challenges, the analysts remain optimistic, noting that travel spending has shown resilience post-pandemic. Recent consumer surveys suggest vacation spending remains a priority even as discretionary spending on live entertainment and sports is softening, which could continue to benefit Airbnb through the year.