Airbnb Inc Ordinary Shares - Class A

ABNB: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$915.00	Xqvdwdd	Hmdxcvbh

Airbnb’s Profits Travel Higher as Demand Remains at Elevated Levels; Shares Fairly Valued

Dan Wasiolek

Feb 15, 2023

Airbnb shares booked about 10% higher in afterhours trading, primarily driven, we believe, by stronger profitability in 2022’s fourth quarter. We plan to lift our $117 fair value estimate by a high-single-digit percentage to account for stronger EBITDA over our 10-year forecast and time value. We see Airbnb as a company with strong revenue and EBITDA growth prospects, although already reflected in its share price.

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