Airbnb
ABNB
has made an announcement to stop permitting listings of properties once used to house enslaved people on its platform.
The announcement is a result of backlashes the company received after it was known that the ABNB platform had former slave cabins listed.
With the recent announcement, Airbnb aims to eliminate discrimination and make the listings on its platform safe and equally accessible for all people of color.
The latest initiative is expected to help Airbnb win the trust of customers. This will drive the company’s bookings in the days ahead.
Growing Initiatives
Airbnb has been consistently working toward providing better services to all registered hosts and guests.
Apart from the recent announcement, Airbnb introduced Airbnb-friendly apartments to help renters find a place to live and host on Airbnb part-time. On the back of this initiative, Airbnb aims to help renters cover the rising cost of living.
ABNB also introduced anti-party tools in the United States and Canada to help identify potentially high-risk reservations and prevent those users from taking advantage of the Airbnb platform.
Airbnb announced a collaboration with the property tech company, Minut. Per the terms, the companies will offer hosts in more than 60 countries and regions a free noise sensor and three months of subscription free to Minut’s noise and occupancy monitoring service. Airbnb will further provide a messaging tool, which will be integrated with Minut noise alerts. On the back of these, Airbnb aims to help hosts prevent and address potential issues, while protecting guest privacy.
To Conclude
Airbnb’s growing efforts are continuously helping it sustain momentum among hosts and guests, which is propelling its top line.
Notably, ABNB generated revenues of $2.9 billion in third-quarter 2022, which increased 28.9% year over year. The company continues to gain from increasing Nights and Experiences Booked, and Gross Booking Value.
Along with these, Airbnb is witnessing strong growth in the high-density urban areas. Continuous recovery in longer-distance and cross-border travel remains a tailwind.
Considering the above-mentioned factors, Airbnb expects revenues between $1.80 billion and $1.88 billion for fourth-quarter 2022, implying growth between 17% and 23% from the year-ago quarter’s reported number.
Zacks Rank & Stocks to Consider
Currently, Airbnb carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer & Technology sector are
Arista Networks
ANET
,
Agilent technologies
A
and
Asure Software
ASUR
. While Arista Networks and Asure Software sport a Zacks Rank #1 (Strong Buy), Agilent carries a Zacks Rank #2 (Buy) at present. You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Arista Networks has lost 17.9% in the year-to-date period. The long-term earnings growth rate for ANET is projected at 17.5%.
Agilent has lost 6% in the year-to-date period. A’s long-term earnings growth rate is projected at 10%.
Asure Software has gained 26% in the year-to-date period. The long-term earnings growth rate for ASUR is projected at 23%.
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