Airbnb’s stock was up as much as 16% on Friday following a number of analyst reports highlighting that the company is well positioned to capitalize on the expected recovery in the travel industry.
Jefferies, Canaccord Genuity and Mizhuo Securities raised their price targets for Airbnb after the company delivered its first earnings report on Thursday since its initial public offering in December. The company posted a net loss of $3.89 billion, largely attributed to charges related to its IPO, but it posted fourth quarter revenue of $859 million, ahead of analysts’ expectations of $748 million.
