Sure, the translated heading in English is: "Airbnb: Growth Signals and Strategic Priorities in Focus

Airbnb has announced slower revenue growth for the second half of 2024, necessitating an adjustment of growth forecasts by about one percent. Additionally, the outlook for the EBIT margin was revised downwards due to stagnating developments in the commission rate. These factors justify the share price decline following the release of the latest business figures. Valuing platform companies like Airbnb is particularly challenging, as the so-called option value must be considered. This value reflects the company's ability to deviate from its core business, explore new markets, and generate additional revenue streams. CEO Brian Chesky emphasized several priorities at the recent earnings presentation to unlock this option value. Firstly, the hosting platform is to be improved by simplifying the process for property managers to connect with homeowners. This approach resembles the strategy of companies like GuestReady in Dubai and aims to expand the offerings on the platform by reducing entry barriers. Secondly, Chesky focuses on maximizing the value of the "Experiences" segment on the Airbnb platform, which offers tickets for cultural events and tourist attractions. Unlike Booking.com, Airbnb serves a specific target group here, promising additional growth space without direct competition. The third priority is to expand Airbnb's commitment to hosting events. During the Olympic Games in Paris, Airbnb offered 150,000 accommodations. Chesky sees great potential in addressing smaller events and conferences as well, to increase both the short- and long-term offerings on the platform. Despite the adjustments, Airbnb's business model remains robust. With a solid global presence of over eight million hosts and an impressive free cash flow, the company is one of the most profitable tech firms worldwide. The ability to successfully leverage future options will be crucial for future stock performance. With a fair value of about $120 per share, Airbnb currently appears undervalued, with the future growth path depending on successful expansion beyond the core business. In conclusion, it is worth noting that Airbnb is not on the list of the 31 most popular stocks among hedge funds. According to our data, 63 hedge fund portfolios held ABNB at the end of the second quarter, compared to 56 in the previous quarter. While ABNB's growth potential is recognized, some investors believe that certain AI stocks promise higher returns in a shorter time. Our report on the most affordable AI stock could offer interesting alternatives here.