Deutsche Bank Upgrades Airbnb Inc. (ABNB) to Buy

Deutsche Bank analyst Leo Horowitz upgraded Airbnb Inc. (NASDAQ: ABNB) from Hold to Buy with a price target of $154.00.

The analyst commented: "In what has been a consistent theme for travel earnings this quarter, the broader demand backdrop remains strong and Airbnb was able to capitalize via building product momentum that delivered nights growth of 10% in the quarter, 3.6% ahead of the Street, the fastest growth of 2025 despite the challenging compare. Of particular note from a product perspective was the Reserve Now Pay Later (RNPL) product that contributed meaningfully to North America Nights and the shift to a more simplified fee structure for hosts which brought down friction for these hosts in terms of how they price their homes. These two initiatives drove >200bps of growth in the quarter and should remain a tailwind into 2026. Even with what can be deemed a conservative 1Q guide given strength that has sustained QTD and comps that ease, the product momentum that Airbnb delivered in 2H25, as well as meaningful 1H26 FX benefits, has the company now looking for at least DD revenue growth in 2026. As compelling, the product pipeline into 26/27 strikes us as fairly full as fee structure benefits scale, the hotel business grows beyond its fairly nascent stage at the moment, AI native search serves to drive up conversion, and the more streamlined fee structure allows for more smarter pricing by hosts and more market by market fee decisions by Airbnb, to say nothing of the potential benefits of Sponsored Advertising and Experiences and Services in the years to come."

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 $115.96 yesterday.

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