Could Airbnb Stock Recover in 2023?

Unsurprisingly, Airbnb (NASDAQ: ABNB) was decimated by the COVID-19 pandemic as travel restrictions hurt consumer mobility. However, the company's latest financial results were extremely positive. And investors are now hoping for the good times with this growth tech stock to continue. 

Although Airbnb shares are up 32% so far this year, as investor optimism is on its way up, they are still 48% off their all-time high set in February 2021. What's in store going forward? Can Airbnb stock fully recover in 2023? Let's take a closer look. 

After being thumped by the coronavirus pandemic in 2020, Airbnb looks to be firing on all cylinders right now. Its 2022 fourth-quarter revenue of $1.9 billion and diluted earnings per share (EPS) of $0.48 were up 24% and 500%, respectively, on a year-over-year basis. And both of these figures exceeded what Wall Street was looking for. Therefore, it's not a surprise that the stock popped immediately following the announcement. 

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Source Fool.com