Wells Fargo Raises Target Price for Airbnb (ABNB)

Airbnb Inc. (NASDAQ:ABNB) is one of the 7 best PropTech stocks to buy according to hedge funds.

On April 1, Wells Fargo increased its price target on Airbnb Inc. (NASDAQ:ABNB) from $133 to $136 while maintaining an Equal Weight rating on the stock. This results in almost 9% upside potential at the prevailing level.

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Despite the high level of economic uncertainty, the firm believes that Airbnb will have excellent operating momentum. Wells Fargo argues that macro is the key driver at this point and anticipates guidance that suggests night growth is slowing down modestly in the second quarter.

Back on March 3, Mizuho increased its price target for Airbnb Inc. (NASDAQ:ABNB) from $156 to $175. The firm also maintained an Outperform rating on the stock, which currently offers an adjusted upside potential of more than 40%.

The revision came at the back of the company’s fourth quarter report, based on which Mizuho decided to revise its model. The firm, however, feels that investors are underestimating the bullish story around the stock.

Airbnb Inc. (NASDAQ:ABNB) runs a global online marketplace to offer lodging, travel, gift cards, and other services. Through its platform, guests are connected with hosts around the globe for bookings and reservations. The company enables such connectivity through a mobile app and a website.

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