- Citi analyst Ronald Josey reiterated Buy on Airbnb, Inc (NASDAQ:ABNB) with a $140 price target.
- Following a call with AirDNA’s VP of Research, Jamie Lane, Josey emerged incrementally positive on near-term demand trends within the alternate accommodation market.
- AirDNA reported +25% Y/Y growth in nights booked on Airbnb through November, with accelerating trends more recently and 1Q23 revenue pacing +25% Y/Y.
- To be clear, given macro headwinds, Lane suggested that 2023 supply and demand growth will likely decelerate meaningfully.
- However, longer-term Alternate Accommodations could reach ~20% of the lodging market, up from ~14% today, Josey said in a note titled “4Q QTD Trends Suggest Continued Elevated Demand for Alt. Accommodations.”
- While Josey recognizes visibility into 2023 remains mixed given macro and overall concerns on N&EB growth, the analyst was encouraged with 4Q22 trends QTD and believed newer products like Setup, an expanded AirCover, and additional Categories could attract incremental supply and demand.
- Price Action: ABNB shares traded higher by 0.6% at $88.16 on the last check Wednesday.
ACI Worldwide Q3 Adj EPS $0.11 Beats $0.07 Estimate, Sales $307.00M Miss $315.49M Estimate
ACI Worldwide (NASDAQ:ACIW) reported adj quarterly earnings of $0.11 per share which beat the analyst consensus estimate of $0.07 by 57.14 percent. This is a 64.52 percent decrease over earnings of $0.31 per share from
