Is Airbnb Stock a Buy Now?
Airbnb (NASDAQ: ABNB) shares are up a whopping 34% in 2023 (as of April 5), easily outpacing the Nasdaq Composite Index, a sign that investors are starting to warm up to growth tech stocks once again. This follows a tumultuous 2022 when the stock was down a jaw-dropping 49%. Shareholder optimism appears to be heading in the right direction.
To its credit, this leading travel company is benefiting from powerful momentum right now as it reported outstanding financial results for the last quarter and year thanks to strong demand. So, is Airbnb stock a buy now? Let's take a closer look at what investors need to know before making an informed decision.
In the most recent quarter (the fourth quarter of 2022 ended Dec. 31), Airbnb generated $1.9 billion of revenue, good for a year-over-year increase of 24%. For the full year, sales were up 40% following a 77% jump in 2021. Two of the company's key business metrics, which are nights and experiences booked and gross booking value (GBV), also registered wonderful gains. During 2022, 393.7 million nights and experiences were booked on the platform for a total GBV of $63.2 billion.
Source Fool.com
