Airbnb Inc Shares (NASDAQ: ABNB) are currently trading at a price below the price at which they started the year – and this, according to Jim Cramer, is an opportunity to buy a quality name at a deep discount.
Cramer’s outlook on Airbnb stock
In November, the vacation rental company reported its financial results for the third quarter which significantly exceeded Street’s estimates. Speaking positive about the action This Morning on CNBC “Squawk in the Street”, Cramer said:
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I believe in Airbnb. I would own the Airbnb stock. I don’t own it for my Charitable Trust, but I think it’s a good company.
Cramer recommends buy Airbnb stock also because he has faith in the leadership of Brian Chesky – the CEO of Airbnb Inc.
His constructive view is in line with Wall Street, which also rates this Nasdaq-listed company as “overweight.”
Airbnb is committed to being affordable
Last month, CEO Chesky reiterated that Airbnb is committed to affordability to maintain strength during the looming recession as we reported here. According to Jim Cramer:
When I spoke to Brian Chesky he said nothing about the high end not traveling. But somehow his interview was interpreted as saying that. I went back to Brian, and he said that just wasn’t true.
Airbnb recently introduced things like Airbnb Setup and AirCover to make it easier for hosts to join the platform. In a show showing how easy it is, CEO Brian Chesky himself listing one of his rooms on the market in November for “zero” dollars.
The Nasdaq-listed company expects revenue of up to $1.88 billion in the holiday quarter, up 20% year-over-year.
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