(News Bulletin 247) – Airbnb climbed more than 10% on Wednesday on the New York Stock Exchange after presenting quarterly results above expectations and declaring that it was still benefiting from strong demand at the start of 2023.

The American platform for rental of housing between individuals reported yesterday evening a turnover up 24% to 1.9 billion dollars, a record for a fourth quarter.

Its adjusted operating profit (Ebitda) climbed 52% to reach $506 million, which again constitutes a historic high and a figure above the consensus of $434 million.

For the first quarter of 2023, the San Francisco group said it is aiming for revenue between $1.75 billion and $1.82 billion, well above the consensus of $1.68 billion.

Due to an increase in marketing expenditure, the operating margin should nevertheless decline to 15.2%, but it should come out around 34% over the full year, a performance in line with that of 2022.

These results and these prospects led many analysts to revise upwards their target price on the title on Wednesday, Susquehanna having notably raised its target from 135 to 155 dollars.

The Canaccord Genuity teams have raised their target from $145 to $165.

Following this publication, Airbnb shares rose 12% on the Nasdaq on Wednesday, bringing its gains since the start of the year to more than 41%. The company is now valued at nearly $86 billion.

‘Investors have understood that it is likely that the company will continue to aggressively gain market share at the expense of the traditional tourism market, which should allow it to cushion any episodes of economic slowdown in the years to come,” says Canaccord.

If they say they appreciate the positioning and the performance of the group, BofA analysts warn for their part that the spectacular growth signed in recent years is now mechanically expected to slow down.

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