Is Airbnb an Excellent Growth Stock to Buy at Current Valuations?
Airbnb (ABNB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
As the larger bull market rolls on, it makes sense to own economically sensitive stocks.
The long-term outlook for Airbnb continues to be strong.
Today's stock market is still getting used to the new realities that have come to the economy since the United States presidential election. With inflation concerns rising and 10-year Treasury yields approaching 5% as the bond market reacts, some stocks may benefit from both trends.
ABNB's third-quarter 2024 results benefit from continuous improvement in Nights and Experiences Booked and strong demand for its services.
Investors should be looking to buy wonderful businesses at good prices.
Shares of Airbnb Inc ABNB tumbled in early trading on Friday, after the company reported downbeat third-quarter results.
Airbnb stock is sinking Friday after the travel company reported mixed results for its third quarter and provided a soft outlook.
Airbnb Inc (NASDAQ:ABNB) stock is 9.2% lower at $134.80 at last glance following a mixed third-quarter earnings report.
Airbnb Inc's (NASDAQ:ABNB, ETR:6Z1) stock dropped nearly 5% in after-hours trading after third-quarter earnings fell slightly short of analyst predictions, though revenue marginally exceeded expectations. The company reported earnings per share of $2.13 against the $2.14 anticipated, with revenue reaching $3.73 billion, a 10% increase from the same period a year ago.
I reiterate a ‘Strong Buy' rating on Airbnb with a one-year target price of $200 per share, driven by strong travel market recovery. Airbnb reported 10% constant revenue growth and 10% gross booking value growth in Q3, supported by investments in customer service and the Co-Host network. Global travel market growth, driven by increased discretionary cash flow and international travel demand, is expected to benefit Airbnb's near-term growth.