Airbnb (ABNB)

Hold Recap: Q2 2026

Core Markets Accelerate and the Guide Goes Up a Third Time, But a 17% Session Took the Upside With It

Outperform Recap: Q1 2026

Beat, Raised Twice, and Quietly Trading Float for Volume: Ex-FX Bookings Growth Held at 13% While Free Cash Flow Fell

Outperform Recap: Q4 2025

The Margin Answer Arrives Intact: FY26 Guided to Accelerate on Stable Margins, With Three Pricing Changes Doing 300 Basis Points of the Work

Hold Recap: Q3 2025

Three Businesses, One P&L: Nights Accelerate and EBITDA Sets a Record, But the Take Rate Slips and the 2026 Margin Answer Is Deferred to February