5 Tech Stocks Making Headlines on Friday

1. Airbnb, Inc. (NASDAQ:ABNB) has slid 1.81% as of 12:33 AM ET after Naved Khan at Truist lowered the price target on Airbnb, Inc. (NASDAQ:ABNB) from $190 to $160 while maintaining a Hold rating on the stock. The analyst anticipates a strong recovery in travel demand in the short term but sees sensitivity to inflationary prices amongst travelers.

Tollymore Investment Partners shared its stance on Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2021 investor letter. Here’s what the firm said:

“Today disruptors are not typically seeking to replace incumbents entirely. Rather, they break the links in the customer journey, in doing so better aligning monetisation with value creation and minimising externalities. For example, Airbnb broke the link between staying in residential property and owning it. Airbnb is a specific example of a business model innovation which separated asset use from ownership. This is hardly a novel idea; it’s called renting. Rental models lend themselves to assets which are expensive and durable, and where usage is infrequent.”

Airbnb, Inc. (NASDAQ:ABNB) was held by 66 hedge funds as of Q1 2022.

You can also take a peek at the 10 Dividend Growth Stocks Popular on Robinhood and 10 Stocks to Buy According to Canyon Capital Advisors.

Follow Insider Monkey on Twitter