Oppenheimer Upgrades Airbnb to Outperform With $180 Price Target

Oppenheimer analyst Jed Kelly upgraded Airbnb (NASDAQ:ABNB) to Outperform from Perform with a $180 price target on Monday. The upgrade comes as the stock trades near current levels, suggesting upside potential.

Rating Change

• Previous Rating: Perform
• New Rating: Outperform
• Price Target: $180

Analyst Rationale

Kelly highlights three key product initiatives that he believes will drive durable revenue acceleration not fully reflected in Street estimates:

1. Hotels Expansion: Airbnb's plans to increase hotel room availability on its platform.
2. Reserve Now Pay Later (RNPL): Flexible payment options that could boost bookings.
3. AI Search: Enhanced search engine to improve relevance and booking conversion.

Additionally, the analyst points to the 2026 World Cup as a potential re-rating catalyst, as increased demand for short-term rentals during the tournament could boost revenue.

Context

Airbnb stock currently trades near $150, implying roughly 20% upside to the new $180 target. No other analysts have immediately commented on the upgrade. The stock has seen volatile performance in recent months amid concerns over travel slowdown.

What to Make of It

Oppenheimer's upgrade reflects optimism in Airbnb's ability to diversify offerings and capitalize on major events. However, investors should monitor the execution of these initiatives and their actual impact on financial results.