An Inside Look at Marriott's Troubling Investment in Short-Term Rental Firm Sonder
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 24 2025
0mins
Should l Buy ABNB?
Source: WSJ
Marriott's Strategic Move: Marriott International entered a $15 million licensing agreement with Sonder to expand its portfolio by adding 9,000 rooms.
Sonder's Unique Offering: Sonder differentiates itself from traditional short-term rentals by providing hotel amenities in apartment-style units across three continents.
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Analyst Views on ABNB
Wall Street analysts forecast ABNB stock price to rise
29 Analyst Rating
12 Buy
16 Hold
1 Sell
Moderate Buy
Current: 115.960
Low
107.00
Averages
144.85
High
180.00
Current: 115.960
Low
107.00
Averages
144.85
High
180.00
About ABNB
Airbnb, Inc. operates a global platform for stays and experiences. The Company’s marketplace model connects hosts and guests online or through mobile devices to book spaces and experiences around the world. The Company has built its platform to onboard new hosts, especially those who previously had not considered hosting. It partners with hosts throughout the process of setting up their listing and provides them with a suite of tools to manage their listings, including scheduling, merchandising, integrated payments, community support, host protection, pricing guidance, and feedback from reviews. Its Website and mobile applications provide its guests with a way to explore a variety of homes and experiences and an easy way to book them. Its technology platform powers its two-sided marketplace and enables its global network of hosts and guests. It owns a trademark portfolio with protection in 220 countries in which it operates for its primary brands, AIRBNB, and its Belo logo.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Surge in Deferred Revenue: The company reported deferred revenue of $5.37 billion, indicating a growing backlog, and investors will closely monitor the conversion of multistage projects to ensure cash flow supports higher innovation spending.
- Positive Market Reaction: In pre-market trading, ANET's stock surged over 10%, demonstrating a positive market response to its robust performance and growth outlook, further solidifying its leadership position in the AI networking sector.
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- Rating Upgrade: Deutsche Bank upgraded Airbnb from hold to buy, with analyst Lee Horowitz raising the price target from $128 to $154, indicating a potential 33% upside and reflecting confidence in the company's long-term growth prospects.
- Earnings Beat: Airbnb's Q4 revenue of $2.78 billion surpassed the market expectation of $2.72 billion, demonstrating strong performance amid robust demand, with current-quarter revenue expected between $2.59 billion and $2.63 billion, exceeding consensus estimates.
- Innovative Products Driving Growth: The newly launched Reserve Now Pay Later product significantly boosted North American nights, while a simplified fee structure reduced pricing friction for hosts, together contributing over 200 basis points of growth in the quarter, with expectations of continued support through 2026.
- Robust Future Pipeline: Horowitz noted that Airbnb's product pipeline is promising, with the scaling benefits of the fee structure, growth in the hotel business, and AI-driven search enhancing conversion rates, suggesting a positive outlook for revenue growth, particularly with potential gains from Sponsored Advertising and Services.
See More
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- Market Overview: Stock futures are trading mostly lower as investors express caution.
- Investor Concerns: There is heightened anxiety regarding artificial intelligence developments.
- Upcoming Data: Investors are awaiting the consumer-price inflation report for January.
- Market Sentiment: Overall market sentiment remains tense as economic indicators are closely monitored.
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- Revenue Beat: Airbnb's Q4 revenue reached $2.80 billion, marking a 12% year-over-year increase and surpassing analysts' expectations of $2.71 billion, although the earnings per share of $0.56 fell short of the $0.66 forecast primarily due to investments in technology and marketing.
- New Payment Feature Drives Bookings: The launch of the 'Reserve Now, Pay Later' feature in the U.S. allows guests to pay $0 upfront, significantly accelerating bookings in Q4, particularly for larger, higher-priced homes, indicating successful customer attraction strategies.
- Optimistic Q1 Guidance: The company anticipates Q1 revenue between $2.59 billion and $2.63 billion, representing a year-over-year growth of 14% to 16%, exceeding analysts' expectations of $2.53 billion, reflecting strong confidence in future growth.
- Shareholder Dynamics Impact Stock Price: Cathie Wood's Ark Investment Management sold nearly 260,000 shares of Airbnb ahead of earnings, causing stock volatility; however, retail investor sentiment has shifted to 'extremely bullish', indicating optimism about the company's future performance.
See More
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- Significant Revenue Growth: Airbnb reported Q4 2025 revenue of $2.8 billion, reflecting a 12% year-over-year increase, marking the highest growth quarter in over two years, indicating strong market performance and ongoing business expansion potential.
- Innovation-Driven Revenue: The launch of Project Hawaii generated hundreds of millions in revenue in 2025, with expectations for similar results in 2026, demonstrating that the company's continued investment in technology and user experience is yielding positive outcomes.
- Effective Pricing Strategy: The newly introduced 'Reserve Now, Pay Later' initiative in the U.S. accelerated bookings for high-priced homes, expected to drive revenue alongside Project Hawaii, enhancing the company's competitive edge in the market for years to come.
- International Market Expansion: Brazil emerged as one of Airbnb's top five markets and the second-largest contributor to first-time bookers in Q4, showcasing the positive impact of the company's global expansion strategy.
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