Selected stock price target news of the day - May 10th, 2024

By: Matthew Otto

Airbnb’s Mixed Quarter: Surpassing Expectations Amidst Uncertain Guidance

Airbnb’s first-quarter performance managed to surpass analyst projections, with earnings per share of 41 cents, well above the expected 24 cents, alongside revenue hitting $2.14 billion, edging past the forecasted $2.06 billion. While this showcased an 18% revenue increase from the prior year’s $1.82 billion, the results were overshadowed by the company’s second-quarter guidance, which fell slightly below analysts’ expectations, with anticipated revenue falling short at $2.68 billion to $2.74 billion, a tad beneath the projected $2.74 billion.

Despite these figures, Airbnb reported a 62% year-over-year boost in adjusted EBITDA for the first quarter, reaching $424 million, and a 15% uptick in active listings compared to the previous year. However, the company’s gross booking value of $22.9 billion, with 132.6 million nights and experiences booked, only marked a 9.5% growth compared to the prior year.

Analysts Offer Mixed Outlooks Amidst Market Uncertainty

JP Morgan’s Doug Anmuth maintained a Neutral rating and raised the price target from $140 to $145.
Citigroup’s Ronald Josey maintained a Buy rating but lowered the price target from $170 to $167.
Needham’s Bernie McTernan reiterated a Hold rating.
TD Cowen’s Kevin Kopelman maintained a Buy rating and lowered the price target from $180 to $170.
HSBC’s Raymond Liu downgraded Airbnb from Buy to Hold and set a $156 price target.
BMO Capital’s Brian Pitz maintained a Market Perform rating and increased the price target from $135 to $151.
DA Davidson’s Tom White maintained a Neutral rating and a $145 price target.

Which Analyst has the best track record to show on ABNB?

Analyst Lloyd Walmsley (UBS) currently has the highest performing score on ABNB with 8/9 (88.89%) price target fulfillment ratio. His price targets carry an average of $3.22 (2.22%) potential upside. Airbnb stock price reaches these price targets on average within 76 days.

Match Group Paying Users Decline, Analysts Caution on Future Performance

Match Group disclosed that paying users across its platforms decreased by 6% in the first quarter to 14.93 million, with Tinder experiencing a 9% decline to just under 10 million payers. This decline, coupled with lower-than-expected second-quarter revenue projections of $850 million to $860 million compared to analysts’ expectations of $883.8 million, fueled investor concerns.

Stifel analyst Mark Kelley expressed caution, maintaining a Hold rating on the stock with a $39 price target, citing uncertainty surrounding Match Group’s ability to navigate current challenges. Similarly, Wells Fargo analyst Ken Gawrelski, with an Equal Weight rating and a $31 price target, noted the absence of positive commentary on Tinder engagement or product details, signaling potential underperformance ahead.

Despite reporting first-quarter adjusted earnings of 44 cents per share on revenue of $859.65 million, which exceeded analysts’ expectations of 41 cents per share on revenue of $855.79 million, Match Group’s faced downward pressure following revelations of a decline in paying users across its platforms. Looking ahead, Match Group provided guidance for the second quarter of 2024, forecasting revenue in the range of $850 million to $860 million. This projection fell short of analysts’ expectations, which averaged $882 million.

Analysts Adjust Price Targets Amidst Market Volatility

UBS analyst Kunal Madhukar maintained a Neutral rating and lowered the price target from $40 to $36.
RBC Capital analyst Brad Erickson reiterated an Outperform rating and lowered the price target from $43 to $33.
TD Cowen analyst John Blackledge maintained a Buy rating and downgraded the price target from $46 to $44.
Wells Fargo analyst Ken Gawrelski maintained an Equal-Weight rating yet lowered the price target from $31 to $30.
Deutsche Bank analyst Benjamin Black kept a Buy rating but lowered the price target from $42 to $38.
Keybanc analyst Justin Patterson maintained an Overweight rating and decreased the price target from $46 to $44.
Goldman Sachs analyst Alexandra Steiger maintained a Buy rating and lowered the price target from $47 to $37.

Which Analyst has the best track record to show on MTCH?

Analyst Cory Carpenter (JPMORGAN) currently has the highest performing score on MTCH with 1/6 (16.67%) price target fulfillment ratio. His price targets carry an average of $16.75 (43.79%) potential upside. Match Group stock price reaches these price targets on average within 3 days.

SolarEdge Technologies Faces Decline Amidst Disappointing Guidance and Industry Challenges

SolarEdge Technologies reported an adjusted loss of $1.90 per share for the first quarter, surpassing Wall Street’s anticipated loss of $1.56 per share, despite posting revenue of $204 million, which exceeded the consensus estimate of $195.4 million.

Analysts, including Austin Moeller from Canaccord Genuity Capital Markets, emphasized the challenges posed by high interest rates on solar project financing. Moeller lowered his price target on SolarEdge stock to $58 from $75, maintaining a Hold rating, citing the ongoing difficulties faced by the company and the broader solar industry. Deutsche Bank Research analyst Corinne Blanchard echoed similar sentiments, reducing her price target to $55 from $75, while also maintaining a Hold rating. Blanchard emphasized the need for SolarEdge to demonstrate improved gross margin performance before a more optimistic stance could be warranted.

Looking ahead, SolarEdge provided guidance for the second quarter of 2024, forecasting revenue between $250 million and $280 million, a figure lower than the consensus estimate of $306 million.

Analysts Mixed Ratings Amidst Lowered Price Targets

Mizuho analyst Maheep Mandloi maintained a Buy rating but lowered the price target from $104 to $84.
BofA Securities analyst Julien Dumoulin-Smith maintained an Underperform rating and lowered the price target from $54 to $44.
Canaccord Genuity analyst Austin Moeller reiterated a Hold rating but lowered the price target from $75 to $58.
RBC Capital analyst Chris Dendrinos kept a Sector Perform rating and downgraded the price target from $74 to $71.
TD Cowen analyst Jeffrey Osborne maintained a Buy rating but lowered the price target from $85 to $80.
BMO Capital analyst Ameet Thakkar maintained a Market Perform rating and lowered the price target from $73 to $56.

Which Analyst has the best track record to show on SEDG?

Analyst Jeffrey Osborne (TD COWEN) currently has the highest performing score on SEDG with 13/19 (68.42%) price target fulfillment ratio. His price targets carry an average of $27.33 (51.89%) potential upside. SolarEdge Technologies stock price reaches these price targets on average within 118 days.