#4 - Airbnb (NASDAQ:ABNB)
Airbnb, Inc. (NASDAQ: ABNB) is thought of as part of the travel and tourism sector. And it’s probably an understatement to note that business is booming. In its second-quarter 2023 earnings report, Airbnb reported a year-over-year (YOY) revenue increase of 19% with a net income margin of 26%.
But there’s a reason that Airbnb makes it onto a list of housing stocks. The company is in the early stages of an expansion into the long-term rental market. This is a strategic priority that goes beyond the “bleisure” trend.
In 2022, the company introduced a portfolio of Airbnb-friendly apartments in over 25 U.S. markets. These are units designed for long-term renters. However, once a renter finds a rental, they can list the property on Airbnb to offset a portion of their rent.
The existing home market likely to remain tight through 2024 and likely beyond. That gives Airbnb a long runway to grow. Analysts seem to agree. The company’s profits are forecast to increase by over 17% in the next year, and the ABNB stock price is expected to climb 15%.
About Airbnb
Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.
More- Current Price
- $129.37
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 20 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $139.63 (7.9% Upside)
