Airbnb Inc. (ABNB) Management Meeting Thoughts - Morgan Stanley

Morgan Stanley analyst Brian Nowak reiterated an Equalweight rating and $140.00 price target on Airbnb Inc. (NASDAQ: ABNB) after meeting with management and yielding 3 takeaways:

1) The company has multiple sources of incremental demand

2) Supply is not a near-term limiting factor on financial results

3) Incremental monetization opportunities exist but are unlikely to contribute in the near-term

The analyst stated "ABNB's recovery has been particularly strong due to its traction among new bookers (we detail ABNB's strength relative to traditional OTA's here). It added 14mn gross new active bookers through the first 9 months of 2020 and saw continued traction among new bookers following the launch of its ad campaigns in 1Q21. ABNB is also reaping the benefits of its more than 100 website and app upgrades with the introduction of flexible dates improving
overall booking conversion. In the medium term, ABNB will continue to look to tangential products including long term stays (between a week stay and a year lease) as a natural progression of the product to drive of growth, highlighting
this stay duration as a particularly underserved use case."

For an analyst ratings summary and ratings history on Airbnb Inc. click here. For more ratings news on Airbnb Inc. click here.

Shares of Airbnb Inc. closed at $163.30 yesterday.

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