Airbnb slumps over 6% as gloomy Q2 forecast fans slowdown fears

It also forecast the growth rate of room nights booked would be relatively flat on a sequential basis, but the company's average daily rate is expected to be modestly higher year-over-year.

Moderating in the U.S. has also been a concern for investors.

"Airbnb failed to deliver a beat/raise on nights, which we believe was necessary to ease concerns about slowing growth and of downside to consensus estimates for accelerating growth in (the second half of 2024 and in 2025)," analysts said.

According to analysts, Airbnb's forecast implied nights booked of about 125 million to 127 million in the second quarter. That compared with consensus estimates of 129.2 million, data showed.

"While Airbnb topped the Q1 guide, it was shy of more aggressive buyside expectations in the quarter and the Q2 outlook," BTIG's Jake Fuller wrote in a client note.

Still, some analysts noted the in was stemming from undue investor concern.

"We think the pullback is an overreaction to weaker second-quarter guidance ... the outlook for 2024 is relatively unchanged, in our view," said analyst Dan Wasiolek.

Shares of Airbnb, which have gained 16% so far this year through last close, were at $148.21 by 1356 GMT on Thursday. They were trading about 33.31 times their forward profit estimates, compared with ' 19.40 multiple.