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Airbnb stock falls despite Jefferies upgrading shares

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Yahoo Finance's Brian Sozzi breaks down a Jefferies analyst's rating on Airbnb.

Video Transcript

BRIAN SOZZI: All right, before we head to break, let's check on shares of Airbnb. Jefferies analyst John Colantuoni is out reiterating a buy rating on Airbnb with an aggressive $140 price target. Price target assumes nearly 50% upside in the stock from current price levels. Says Colantuoni in the note, we believe Airbnb is well positioned to endure a recession, given it offers greater affordability. It's a source of supplemental income. Average daily rates would benefit from more domestic trips. And there is flexibility to increase fee.