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Shares of Airbnb Inc (Nasdaq: ABNB) lack a meaningful upside from here now that they have gained a whopping 50% this year, as per a senior Evercore ISI analyst.
Mahaney has a $136 price target on Airbnb stock
On Friday, Mark Mahaney downgraded Airbnb to “in line”. He, however, left his price target unchanged at $136 which suggests a 5.0% upside only from current levels.Mahaney remains impressed of the “fundamental strength of this business” but said the risk-reward profile looks “less compelling” after a strong rally since the start of 2023.The vacation rentals company recently reported strong results for its fiscal third quarter. Mahaney now expects it to see room night growth of 14% this year and 10% in 2024.Earlier this week, Airbnb announced its first acquisition as a public company as Invezz reported here.
Mark Mahaney sees 50% upside in Expedia stock
A better play within the travel and tourism industry, as per Mark Mahaney, is Expedia Group Inc (Nasdaq: EXPE).He rates the Seattle-headquartered firm at “outperform” with upside to $200 which signals potential for a whopping 50% rally from here.The Evercore ISI analyst is convinced that Expedia stock is at a “fundamental inflection point” and will see significant growth in revenue and improved EBITDA margin in 2024. Mahaney is bullish on its sustainable initiatives including the OneKey loyalty programme.
The Biggest Travel Trends of 2024, According to Expedia Group’s President. Click the image for more info. https://t.co/SCvA92oISM pic.twitter.com/JBlkVm81c1
— Travel + Leisure (@TravelLeisure) November 17, 2023
He expects easing comps to be a catalyst for EXPE as well. Other names the Head of Internet Research likes within this space include Booking Holdings Inc.More By This Author:Nvidia Just Partnered With Dropbox On AI Tools
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