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Needham Sticks to Their Buy Rating for Airbnb (ABNB)

Needham analyst Bernie McTernan reiterated a Buy rating on Airbnb (ABNBResearch Report) today and set a price target of $150.00. The company’s shares closed last Tuesday at $116.34.

According to TipRanks.com, McTernan ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -20.0% and a 29.1% success rate. McTernan covers the Services sector, focusing on stocks such as Rush Street Interactive, Penn National Gaming, and Peloton Interactive.

Currently, the analyst consensus on Airbnb is a Moderate Buy with an average price target of $141.73, which is a 26.9% upside from current levels. In a report issued on August 1, KeyBanc also maintained a Buy rating on the stock with a $145.00 price target.

See today’s best-performing stocks on TipRanks >>

Based on Airbnb’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.51 billion and GAAP net loss of $18.79 million. In comparison, last year the company earned revenue of $887 million and had a GAAP net loss of $1.17 billion.

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Founded in 2007, California-based Airbnb, Inc. is an online marketplace which connects hosts and guests online or through mobile devices to book travel services and accommodation facilities worldwide. The company provides apartments, villas, bungalows, private homestays, and tourism services.

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