Down 53%, This Nasdaq Stock Has Never Been a Better Buy
Even as the company has absolutely crushed every financial metric this past year, Airbnb (NASDAQ: ABNB) shares sit 53% below their all-time high. While the stock's valuation may have been slightly inflated to start 2022, that is no longer the case in 2023. Although Airbnb has only been public since late 2020, there has never been a better time to purchase the stock. Read on to find out why.
When investors last heard from the alternative stay and experience platform, Airbnb's numbers were quite impressive. Nights and experiences booked nearly crossed 100 million in the third quarter of 2022, growing at a 25% pace. This helped propel revenue 29% higher to $2.9 billion.
But investors care about profits, and Airbnb delivered on those too. It posted a net income of $1.2 billion -- indicating an impressive 41% profit margin. Furthermore, Airbnb has now produced $3.3 billion in free cash flow (FCF) over the past 12 months.
Source Fool.com
