Lodging company Airbnb (ABNB) is adding new social features to its app that let guests message each other and see who else is attending an experience before it starts. These updates include a direct messaging tool for those going to the same event and a dashboard that shows the profiles of other participants. Guests must opt in to use these features for each event, and they can unsubscribe at any time.
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These features come after a major app redesign in May that added new services like catering and personal training. That update also revamped Airbnb’s “experiences” section, which the company had been trying to grow before putting things on hold during the 2020 pandemic. Interestingly, earlier this year, Airbnb said that it would invest $200 million to $250 million into exploring new business ideas.
Airbnb also improved its AI chatbot, which now helps with tasks like canceling bookings or changing dates. The tool is available in English, Spanish, and French for users in North America. Other changes include a more flexible search that suggests listings outside the original filters, and updated maps that highlight landmarks, restaurants, and tourist spots. These updates show that Airbnb wants to become more than just a short-term rental platform.
Is ABNB Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on ABNB stock based on 12 Buys, 15 Holds, and five Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ABNB price target of $139.28 per share implies 8.3% upside potential.
