Airbnb soars after earnings as one analyst calls it ‘the best asset in travel’

Co-founder and CEO of Airbnb Brian Chesky speaks all over an interview in Langa township, Cape Metropolis, South Africa March 17, 2017.

Mike Hutchings | Reuters

Airbnb’s stock became once up as a lot as 16% on Friday following a probability of analyst experiences highlighting that the corporate is properly positioned to capitalize on the expected recovery in the hurry industry.

Jefferies, Canaccord Genuity and Mizhuo Securities raised their imprint targets for Airbnb after the corporate delivered its first earnings document on Thursday since its preliminary public offering in December. The company posted a gain loss of $3.89 billion, largely attributed to prices connected to its IPO, on the opposite hand it posted fourth quarter revenue of $859 million, earlier than analysts’ expectations of $748 million.

“We continue to bear in mind that ABNB remains the most realistic likely asset in hurry, and we admire the reality that imprint reductions admire positioned the Co. properly for the recovery in hurry,” wrote Jefferies, which raised its imprint target for Airbnb from $170 to $210.

In its document, Mizuho wrote that it expects room night trends for Airbnb to return to the corporate’s 2019 ranges in the 2d half of 2021. Mizuho raised its imprint target for Airbnb from $150 to $176.

“Heading into 1Q21, we predict room night trends to toughen with a meaningful recovery in 2H21,” Mizuho wrote.

Canaccord Genuity, in the meantime, raised its imprint target for Airbnb from $175 to $220. Canaccord Genuity particularly highlighted a marketing campaigned announced by Airbnb’s executives to recruit more hosts for the carrier.

“Pent-up hurry needs and the work from wherever style has already led to lower supply availability in North The US, and management is planning for a cloth hurry rebound this year by prioritizing expanding supply, alongside side a marketing conception focused at hosts and a simplification of host onboarding,” Canaccord Genuity wrote.

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