Airbnb Stock Gains Again After Analysts Boost Price Targets © Reuters.
By Sam Boughedda
Investing.com — Airbnb Inc (NASDAQ:ABNB) shares rose more than 3% on Monday after several analysts increased their price targets on the stock as transatlantic travel demand gathers pace.
Last Thursday, the company posted its third quarter earnings, and the stock rose nearly 13%.
Piper Sandler, Susquehanna, Loop Capital, Wells Fargo, and DA Davidson all raised price targets on Monday, with Airbnb’s earnings taken into consideration.
However, the key point in most notes was the rise in travel demand, with the U.S. now opening up to vaccinated travelers by airplane from around the world, and in particular, from the U.K. and Europe. Susquehanna analyst Scott Devitt described Airbnb as being a must-own stock for the recovery.
After nearly 20 months, the U.S. today lifted a ban on international travelers from more than 30 countries, which will surely provide a rise in Airbnb demand. So it’s no wonder that the stock is under analysts’ spotlight once more.
Piper Sandler increased Airbnb’s price target to $215 from $175, Susquehanna increased the price target to $235 from $200, Loop Capital lifted it to $250 from $205, Wells Fargo increased it to $225 from $210 and DA Davidson boosted it by $56 to $230.
Airbnb’s stock price is currently sitting at around the $208 mark.