Bernstein SocGen Group raised its price target on Airbnb Inc. to $217 from $168 on Wednesday, citing accelerating growth and a favorable valuation framework.
The firm maintained an Outperform rating while highlighting Airbnb's second-quarter performance as a "clear inflection point," with revenue and adjusted EBITDA exceeding consensus by 0.8% and 2.7%, respectively. The stock last traded at $187.30, near its 52-week high of $189.20, and has gained 44% over the past year.
Bernstein's new target is based on a 25.5 times EBITDA multiple, with the firm forecasting medium-term revenue growth of 10.5% to 11% and a 12% revenue growth rate embedded in its model. Analyst Richard Clarke noted potential upside from AI-driven search tools, dynamic pricing, loyalty programs, and sponsored listings, alongside sustained double-digit revenue growth, modest margin expansion, and ongoing share buybacks.
The price target revision follows third-quarter 2026 revenue guidance of $4.73 billion at the midpoint, which is 2.7% above Street expectations. Other firms have also adjusted their outlooks: Wedbush upgraded Airbnb to Outperform from Neutral, while Phillip Securities downgraded the stock to Reduce from Neutral. BMO Capital maintained a Market Perform rating, with a raised target of $165. UBS also lifted its target to $172, and Phillip Securities set a new target of $158.
