ABNB

Airbnb Inc - Ordinary Shares - Class A

TMT, Consumer


Presented:05/27/2022
Price:$120.50
Cap:$76.69B
Current Price:$133.27
Cap:$84.28B

Presented

Date05/27/2022
Price$120.50
Market Cap$76.69B
Ent Value$102.19B
P/E Ratio103.72x
Book Value$7.44
Div Yield0%
Shares O/S636.46M
Ave Daily Vol6,522,590
Short Int2.83%

Current

Price$133.27
Market Cap$84.28B
Airbnb, Inc. engages in the management and operation of an online marketplace. Its marketplace model connects hosts and guests online or through mobile devices to book spaces. The company was founded by Brian Chesky, Nathan Blecharczyk and Joseph Gebbia in 2007 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Airbnb Inc (ABNB), Booking Holdings Inc (BKNG), Expedia Group Inc (EXPE)

Highlights

The presenter is short shares of Airbnb Inc (ABNB), viewing it as a cyclical business that is poorly positioned to scale inventories through its growth cycle as demand tapers following Q2. 

For this reason, despite some long-term value creation levers, the presenter believes this to be an attractive 6-month short and applies a 17.5x multiple to his low case 2023 adjusted EBITDA estimate ($2.3B vs. consensus $3B) to reach a $70 price target. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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