Wall Street Turns Less Bearish on Airbnb: Truist Raises Target to $129

Truist upgraded Airbnb (NASDAQ:ABNB) to Hold from Sell connected Thursday, raising its terms people to $129 from $107, aft revising its 2026 adjusted EBITDA and net estimates higher. The determination is portion of a broader assemblage reassessment pursuing Q4 reports crossed the lodging and leisure space.

With Airbnb shares trading astatine $133.88 connected Thursday greeting — already supra the caller people — the upgrade signals reduced bearishness alternatively than a caller buying opportunity.

Truist's upgrade centers connected improving profitability expectations. The steadfast raised its 2026 adjusted EBITDA estimates for Airbnb aft Q4 results showed the company's concern rhythm opening to stabilize. Management guided for adjusted EBITDA borderline astir level year-over-year successful Q1 2026 and unchangeable full-year 2026 margins arsenic the institution reinvests ratio gains into selling and technology. Crucially, the Q4 borderline compression — 28% adjusted EBITDA borderline versus 31% a twelvemonth earlier — was deliberate and tied to strategical spending connected edifice partnerships and caller services, reflecting deliberate strategical investment.

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The request representation besides strengthened. Gross Booking Value reached $20.40 cardinal successful Q4, up 16% year-over-year — the strongest GBV maturation successful much than 2 years. Revenue grew 12.0% to $2.78 billion, beating estimates of $2.71 billion, and Q1 2026 guidance calls for gross of $2.59B–$2.63B, representing 14%–16% growth.

The upgrade from Sell to Hold is meaningful discourse for investors who person watched the banal retrieve sharply. Airbnb shares are up 7.2% implicit the past month, having bounced from levels person to the anterior $107 target. The stock's 52-week scope spans $99.88 to $143.88, and it presently trades supra some its 50-day moving mean of $129.83 and 200-day moving mean of $128.57. The broader expert assemblage remains split: 20 bargain ratings, 21 holds, and 3 sells, with a statement terms people of $144.99 — good supra Truist's much cautious $129.