Sumary of Airbnb’s stock extends bounce after BTIG analyst turns bullish, cites ‘appealing’ buying opportunity:
- Shares of Airbnb Inc. ABNB, +0.52% gained 0.6% in afternoon trading, putting them on track for a third-straight gain, after BTIG analyst Jake Fuller turned bullish on the home-rental company, saying the recent selloff has created an “appealing entry point” for a “best-in-breed” online travel agent (OTA).
- we see an opportunity to own a unique (few brands have become a verb/noun) and compelling (>90% of traffic direct) model,” Fuller wrote in a note to clients.
- The FactSet consensus for 2021 revenue has increased to $5.29 billion from $4.69 billion at the end of February, and represents 57% growth from 2020. “We can’t say how a COVID resurgence might impact travel, but can say that [Airbnb] is better situated than peers to deal with it,” Fuller wrote.