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Airbnb Labeled Best Idea For 2022 at Cowen

Published 13/12/2021, 20:20
Updated 13/12/2021, 20:20
© Reuters.

By Sam Boughedda

Investing.com — Despite falling 5%, there are some positives for Airbnb Inc (NASDAQ:ABNB) shareholders on Monday, after Cowen analyst Kevin Kopelman named the stock a Best Idea for 2022.

The analyst, who kept an outperform rating and $220 price target on the shares, cited a travel rebound for his reasoning. 

"Airbnb is on track to grow 33% vs pre-pandemic in Q4E while its largest online travel peers are flat to down. While Street sees a major slowdown in 22E on tough comps, we believe this is unrealistic given pent-up demand and the ongoing travel recovery," stated Kopelman.

He added that they are 15% above Street estimates for gross book value at $65 billion and that the Street is #significantly underestimating" growth prospects for the company in 2022 and beyond. 

Airbnb shares are sitting around $170.87.

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