William Blair analyst Ralph Schackart has maintained their bullish stance on ABNB stock, giving a Buy rating on August 5.
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Ralph Schackart has given his Buy rating due to a combination of factors that highlight Airbnb’s strong performance and growth potential. The company has seen an acceleration in nights booked, particularly in its expansion markets, which have been growing at twice the rate of its core markets. This indicates a robust demand for Airbnb’s offerings despite economic uncertainties.
Additionally, Airbnb’s introduction of new product features, such as Airbnb services and experiences, has received positive feedback, suggesting potential for increased engagement and attach rates. Furthermore, the company’s strategic share repurchase program and healthy supply growth, especially in Latin America and Asia-Pacific, demonstrate its commitment to enhancing shareholder value and maintaining a competitive edge in the market.
In another report released on August 5, Bernstein also reiterated a Buy rating on the stock with a $165.00 price target.