Canaccord Genuity analyst Maria Ripps has maintained their bullish stance on ABNB stock, giving a Buy rating today.
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Maria Ripps’s rating is based on Airbnb’s robust performance in the third quarter, where the company exceeded expectations in terms of Nights Booked, Gross Booking Value (GBV), revenue, and profitability. The sequential acceleration in GBV growth was driven by increased Nights Booked and Average Daily Rates (ADRs), with notable contributions from North America and international markets like Japan and India. The introduction of new features such as the ‘Reserve Now, Pay Later’ option has enhanced guest experience and contributed to the growth in bookings.
Additionally, Airbnb’s focus on expanding its ecosystem with features like AI-powered search and integrating hotels in key markets supports its growth momentum. The company’s Q4 revenue guidance aligns with market expectations, and despite ongoing investments, Airbnb’s consistent growth and strategic initiatives are expected to sustain its positive trajectory. These factors collectively underpin Maria Ripps’s Buy rating for Airbnb, with a price target of $180.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $150.00 price target.