- KeyBanc analyst Justin Patterson maintained an Overweight on Airbnb, Inc (NASDAQ:ABNB) with a $142 price target.
- Based on his latest travel tracker, he believes Airbnb trends are essentially tracking in line with expectations.
- Also Read: Want To Airbnb In CEO Brian Chesky’s Property? You Can Because He Listed His Property On Platform
- While parts of Europe (e.g., Germany) are emerging as a cautionary flag, Airbnb’s diversified exposure to urban and suburban markets and ongoing supply growth appear to be driving gains in the U.S. and abroad.
- In his U.S. credit card data, Airbnb has taken ~600 bps share from the hotels since 2019.
- By contrast, pure-play vacation rental businesses like Vrbo and Vacasa, Inc (NASDAQ:VCSA) appear to be facing more pressure, which he believes reflects some shift from suburban to urban markets.
- Price Action: ABNB shares traded lower by 2.37% at $95.45 on the last check Monday.
Airbnb’s Diversified Exposure Is Driving Gains, Analyst Says
KeyBanc analyst Justin Patterson maintained an Overweight on Airbnb, Inc (NASDAQ:ABNB) with a $142 price target. Based on his latest travel tracker,…
