Where Will Airbnb Stock Be in 3 Years?
Airbnb (NASDAQ: ABNB) has a growing business but a shrinking stock price. The vacation rental specialist has seen its shares drop over 30% in the year ended in mid-January even though its last few operating updates have featured strong growth, cash flow, and profits.
Is Wall Street right to push the stock price down on fears of a recession ahead, or will investors who hold it over the next several years be happy that they did? Let's take a look at where Airbnb might be headed by 2026.
Airbnb is cruising into 2023 with solid momentum. Sales in the most recent quarter (which ran through late September) were up 29% to $2.9 billion. The company was solidly profitable, too, as it benefited from high demand for vacations and rising nightly prices. "Our Q3 results demonstrate that Airbnb continues to drive growth and profitability at scale," executives said in an early November shareholder letter.
Source Fool.com
