Airbnb's Valuation Revisited: New Services and World Cup Demand Plans

Airbnb's recent share price trades at $126.28 with a 1-day return of 2.58% but weaker 90-day and year-to-date returns. The company has launched a private car pickup service in over 125 cities and positioned its host network for an expected World Cup travel surge. Our DCF model suggests a future cash flow value of $256.63, indicating a potential opportunity for investors despite a current premium.