Airbnb, Inc. (NASDAQ:ABNB) reported Q2 results, with EPS of $0.56 coming in better than the Street estimate of $0.45. Revenue increased 58% year-over-year to $2.1 billion, in line with the Street estimate, reflecting growth in Nights and Experiences booked, and continued strength in ADR.

The company expects Q3 revenue to be in the range of $2.78-2.88 billion, compared to the Street estimate of $2.77.

While the company is undoubtedly a winner in the post-COVID travel world, Q2 Nights come below estimates and the outlook suggests this more moderate pace of growth displayed in Q2 is likely to sustain in the Q3. According to Deutsche Bank analysts, this is likely to weigh on shares. On the positive front, ADR growth continues to outpace expectations and underlying pricing strength is expected to sustain into Q3.

The analysts lowered their price target to $110 from $120, as they believe online travel multiples will remain under pressure industry-wide as investors continue to digest peak travel concerns.