Airbnb’s Stagnant Recovery Fails to Impress Markets Despite Q3 Growth Signals
Airbnb’s stock (ABNB) remains trapped in a $110-$145 trading range, reflecting investor skepticism despite a brief February rally toward $160. The Q3 earnings report on November 6 underscored this hesitation—missing EPS estimates by 5% while showing a rebound in gross booking value (GBV) growth. Operational momentum may be improving, but sustained GBV acceleration is needed to justify a rerating.
Management’s long-term initiatives have yet to convince markets of a definitive turnaround. With forward EV/EBITDA multiples historically ranging between 16x-21x, Airbnb’s valuation hinges on proving its growth story isn’t just evolving but reigniting. For now, the prudent stance remains a Hold.