Bernstein: 'The Internet broke travel, can AI fix it?'

Bernstein SocGen Group analyst Richard Clarke reiterated an Outperform rating and $165.00 price target on Airbnb Inc. (NASDAQ: ABNB).

The analyst commented: "Yesterday Booking CEO Glenn Fogel and Airbnb CEO Brian Chesky presented at the Skift Global Forum in New York, a major industry conference. The key topic was AI and a surprising level of agreement: Both CEOs got nostalgic for the pre-Internet world where a consumer would visit a physical travel agent, be asked refining questions and be presented with 2-3 options for the trip - not 1,000s. The internet killed these agents off, but AI is aiming to bring this world back but without the human: gone will be the search bar and the filter, and instead a conversational process that refines to a handful of tailored options across multiple verticals. Airbnb will pilot such a search later this year. AI presents as a brave new world and Brian Chesky said it is a potential “existential risk” even to Airbnb, but it is also an “existential risk to others” and therefore will create market share opportunities if they get it right."

For an analyst ratings summary and ratings history on Airbnb Inc. click here. For more ratings news on Airbnb Inc. click here.

Shares of Airbnb Inc. closed at $123.20 yesterday.

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