cnbc said that Airbnb’s stock was up as much as 16% on Friday following a number of analyst reports highlighting that the company is well positioned to capitalize on the expected recovery in the travel industry. Shares closed up 13.3% for the day.
Jefferies, Canaccord Genuity and Mizuho Securities raised their price targets for Airbnb after the company delivered its first earnings report on Thursday since its initial public offering in December. The company posted a net loss of $3.89 billion, largely attributed to charges related to its IPO, but it posted fourth-quarter revenue of $859 million, ahead of analysts’ expectations of $748 million.
How useful was this post?
Click on a star to rate it!
Average rating / 5. Vote count:
No votes so far! Be the first to rate this post.
CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.