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Airbnb stock price target raised by Susquehanna on strong outlook

EditorEmilio Ghigini
Published 02/14/2024, 08:30 AM
Updated 02/14/2024, 08:30 AM
© Reuters

On Wednesday, Susquehanna maintained a positive outlook on Airbnb Inc. (NASDAQ: ABNB) and increased the price target to $180 from the previous $160. The adjustment follows Airbnb's report of a robust fourth quarter. The company also presented a first-quarter revenue guidance that surpassed expectations.

Airbnb has identified several promising investment opportunities anticipated to fuel further growth. Despite these prospects, the forecast for fiscal year 2024's EBITDA (earnings before interest, taxes, depreciation, and amortization) to grow by at least 35% was received with caution as it was not as strong as some market participants might have hoped.

Susquehanna's stance on Airbnb remains unchanged, citing the company's dominant market position, long-term growth potential, and ongoing improvements in profitability. The firm's analysis reflects confidence in Airbnb's business model and its ability to continue capitalizing on the growing trend of alternative accommodation.

The updated price target suggests a favorable outlook for Airbnb's stock, reflecting the company's solid performance and strategic initiatives aimed at driving growth. Airbnb's recent financial results and forward-looking strategies appear to align with Susquehanna's positive assessment of the company's trajectory.

Investors and market watchers will likely monitor Airbnb's progress closely, especially regarding its ability to leverage investment opportunities and achieve the projected EBITDA growth. The updated price target is a sign of the firm's belief in Airbnb's value proposition and its potential for continued success in the competitive travel and accommodation industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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