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New York Markets After Hours

Nov. 27, 2020, 2:05 p.m. EST

Airbnb IPO could go public as early as mid-December: analyst

Most eyes in the tech IPO market are trained on Airbnb Inc. (NAS:ABNB) , whose richly anticipated public offering could raise as much as $1 billion before the end of the year. In a note Friday, MKM Partners analyst Rohit Kulkarni believes the San Francisco-based company could kick off its IPO roadshow after Thanksgiving and possibly start trading as a public company in the second week of December. Kulkarni is bullish on the company, following a recent rebound in business and some cost cutting. Airbnb reported revenue of $1.34 billion for this year’s third quarter -- its second-biggest quarter ever. Kulkarni predicts Airbnb's 2021 bookings could exceed 2019 levels. What is more, he predicts year-over-year sales growth of 30% to 60% in 2021.

Link to MarketWatch's Slice.