Airbnb

ABNB · NASDAQ

$176.94+$1.48 (+0.84%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $175.46

ABNB analyst rating

BuyConsensus of 37 analysts over the last 12 months. 62% rate it a buy.

Strong buy0
Buy23
Hold12
Underperform1
Sell1

12-month price target · 42 analysts

Average $188.07 (+6.3% upside)

Low: $136.35
Now: $176.94
High: $231.00

Upgrades and downgrades

The latest rating actions, newest first

ABNB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 7, 2026	Maintains	Overweight	$186.00 → $185.00	55%
Keybanc	Oct 2, 2026	Upgrade	Sector Weight → Overweight	$191.00	20%
RBC Capital	Sep 21, 2026	Maintains	Outperform	$195.00	54%
Citizens	Sep 18, 2026	Maintains	Market Outperform	$190.00 → $200.00	48%
Morgan Stanley	Sep 16, 2026	Initiates	Equal-Weight	$170.00	52%
Truist Securities	Sep 10, 2026	Maintains	Hold	$134.00 → $161.00	53%
Raymond James	Sep 8, 2026	Upgrade	Market Perform → Outperform	$200.00	59%
Baird	Sep 8, 2026	Maintains	Outperform	$175.00 → $200.00	68%
Rosenblatt	Sep 1, 2026	Initiates	Buy	$220.00	62%
DA Davidson	Aug 31, 2026	Maintains	Buy	$175.00 → $220.00	40%

The case for and against

Updated Oct 14, 2026

Bull case

Airbnb is viewed positively because its growth is becoming more durable and product-led, with 2Q26 Nights and Seats Booked up 10% y/y, app-booked nights up 23%, and first-time booker growth reaching an four-year high, signaling stronger conversion and engagement. Its roughly 90% direct traffic mix, differentiated inventory, and broad global footprint across over 9 million active listings and more than 5 million hosts create a defensible moat, while Hotels are emerging as a credible second engine, already a single-digit percentage of nights but growing about three times faster than Homes. Management’s rapid AI-enabled product cadence, Reserve Now Pay Later adoption, and AI-powered pricing tools should continue to support bookings, margin expansion, and valuation re-rating versus traditional lodging peers.

Bear case

Airbnb is facing a fragile investment case because its growth relies on continued bookings momentum, while risks from RNPL roll-off, elevated marketing intensity, and potential disruption from agentic AI could pressure demand and raise acquisition costs. Although management sees hotels, experiences, and other initiatives as incremental and expects moderation in advertising and personnel growth, the note still warns that supply may be approaching a ceiling near 10–12 million marketable properties versus slightly more than 6 million currently marketed, limiting a key growth lever. The downside scenario assumes only 8% revenue growth and EBITDA margins expanding to 36%, while competitive pressure from Vrbo and Booking, plus regulation and macro shocks, could force heavier spending and margin deleveraging.

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