Evercore ISI Preview Airbnb Inc. (ABNB) Earnings

Evercore ISI analyst Mark Mahaney reiterated an In Line rating and $145.00 price target on Airbnb Inc. (NASDAQ: ABNB).

The analyst comments "Our View: We expect a Modest Beat & Bracket Q4, based on industry data points, 3P channel checks (especially AirDNA) and our model sensitivity analysis. We view the Street’s Q4 Bookings estimate ($19.36B, +10% Y/Y and -15% Q/Q vs recent historical Q4 Q/Q of -12% Y/Y and -15% Y/Y), Revenue estimate ($2.71B, +9% Y/Y and -34% Q/Q vs. recent historical Q4 Q/Q of -34% and -35%), Room Nights (117.7MM, +6% Y/Y and -12% Q/Q vs. recent Q4 Q/Q of -10% and -13%), and EBITDA margin of 28% (-300bps Y/Y) as achievable based on positive intra-quarter datapoints such as positive 3P data, AirDNA read thrus, as well as our model sensitivity analysis. In terms of Q1:26… we view the Street’s Bookings estimate ($26.9B, +8% Y/Y and +39% Q/Q vs recent historical Q/Q of 39% and 48%), Revenue of $2.5B (+11% Y/Y and -7% Q/Q vs recent historical Q/Q of -8% and -3%), Room Nights (154MM +6% Y/Y and +31% Q/Q vs recent historical Q/Q of 29% and +34%), and EBITDA margin of 19% (+60bps Y/Y) also as reasonable. In terms of FY26…we would expect ABNB to provide initial EBITDA Margin guidance, and we believe ABNB will guide to flattish full year EBITDA Margins – consistent with the 35% they are likely to print for FY25."

For an analyst ratings summary and ratings history on Airbnb Inc. click here. For more ratings news on Airbnb Inc. click here.

Shares of Airbnb Inc. closed at $122.18 yesterday.

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