Airbnb price target raised to $155 from $150 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on Airbnb to $155 from $150 and keeps a Buy rating on the shares after its better than expected Q4 results and FY23 guidance. The highlight of the outlook was the company’s ability to keep margins flat y/y despite forecasting falling Average Daily Rates, the analyst tells investors in a research note. The firm also notes that Airbnb’s supply growth continues to accelerate slightly, and that it was "intrigued" by the company’s vision to expand beyond their core business.