Airbnb Inc Ordinary Shares - Class A

ABNB: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$779.00	Wddsjb	Dzbtyqmt

Airbnb Earnings: Overzealous Selloff on Softer Near-Term Demand Presents an Investment Opportunity

Dan Wasiolek

Aug 7, 2024

Shares of narrow-moat Airbnb traded down 14% during Aug. 7 trading, as signs of a more discerning consumer led to weaker third-quarter guidance. We have reduced our 2024-25 sales estimates, leading to our change in our $139 per share fair value estimate to $130. We view the pullback as an opportunity for investors to own a high-quality network-advantaged company with attractive growth drivers that can continue to drive low-double-digit sales growth beyond 2025.

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