D.A. Davidson analyst Tom White has maintained their bullish stance on ABNB stock, giving a Buy rating on April 28.
Tom White has given his Buy rating due to a combination of factors that highlight Airbnb’s strong market position and growth potential. Firstly, the company is expected to benefit from the ongoing shift towards online leisure travel spending, even amid potential economic slowdowns. This trend is likely to support Airbnb’s performance relative to its peers, as the company continues to expand its reach in the alternative accommodations market.
Additionally, Airbnb’s extensive inventory and focus on affordability provide it with a competitive edge, allowing it to cater to a broad range of customer preferences. The company’s recent technological advancements also set the stage for new product offerings that could drive significant revenue growth in the future. Furthermore, Airbnb’s current valuation appears attractive, with its stock trading at a discount compared to historical averages and industry leaders. These factors, combined with Airbnb’s inclusion in the Best-of-Breed Bison list, underscore its potential for long-term value creation.
White covers the Technology sector, focusing on stocks such as Yext, Lyft, and Uber Technologies. According to TipRanks, White has an average return of 0.4% and a 40.53% success rate on recommended stocks.
In another report released on April 28, Canaccord Genuity also maintained a Buy rating on the stock with a $180.00 price target.