Airbnb price target raised to $178 from $150 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Airbnb (ABNB) to $178 from $150 and keeps a Buy rating on the shares following “a monster 4Q” report and an “almost in-line 1Q guide” even with the summer release still three months away and new product launches plus investment in core capabilities highlighted on the last couple calls, the analyst tells investors. Further, and “most importantly,” the firm thought the margin range would be 33%-35% to allow for investment flexibility, but Airbnb promised a minimum of 34.5% margins for the year despite $200M-$250M dedicated to launching and scaling new businesses, the analyst noted.