Airbnb, Inc.
ABNB · NASDAQ
Company research
Airbnb, Inc. (NASDAQ: ABNB) is a San Francisco-based online marketplace founded in 2007 by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk, originally under the name AirBed & Breakfast before rebranding in November 2010. The company operates a global two-sided digital platform that seamlessly connects hosts offering short- and long-term accommodations — ranging from private rooms and primary residences to vacation homes and unique properties — with guests seeking lodging and local experiences across more than 220 countries and regions. Airbnb generates revenue primarily by charging service fees to both hosts (typically 3–5%) and guests (up to 20%) on each booking, with the platform boasting over 8 million active listings and having welcomed more than 2.5 billion guest arrivals since inception. Having gone public in December 2020, the company currently employs approximately 7,300 full-time staff and carries a market capitalization of approximately $82.4 billion, cementing its position as one of the world's leading travel-tech and Consumer Cyclical sector companies.
Research reports
TIKR · July 8, 2026Airbnb Just Broke Out to Its Highest Level in Years in 2026. Here’s Where the Stock Could Go Next
Deep-dive article examining Airbnb’s June 2026 breakout to multi‑year highs, arguing that strong Q1 2026 fundamentals (18% revenue growth, GBV up ~19%) and accelerating adoption of app bookings and “Reserve Now, Pay Later” justify a mid‑case valuation target around 325 dollars with roughly 20% annualized IRR. It highlights hotels as a powerful top‑of‑funnel, event-driven supply from the World Cup, and AI-led margin leverage as key upside drivers, while flagging regulatory risk (e.g., the Chicago lawsuit), nights growth deceleration, and a premium EV/EBITDA multiple versus Booking as central risks to the thesis.
Finterra (via Guymon Daily Herald Business Section) · February 16, 2026The AI-Native Travel Powerhouse: A Deep Dive into Airbnb’s (ABNB) 2026 OutlookLong-form fundamental review positioning Airbnb as an “AI-native” travel concierge following a strong Q4 2025 print, emphasizing 2025 revenue of 12.2 billion dollars, net income of 2.5 billion dollars, and 4.6 billion dollars in free cash flow (38% margin) alongside aggressive buybacks and a forward P/E in the high‑20s. The piece is constructive on Chesky’s AI and product strategy, viewing international expansion, Icons, professional co‑hosting, and potential new lines (car-sharing, flights) as medium‑term catalysts, while acknowledging regulatory tightening in Europe, host saturation in mature markets, and macro sensitivity as key constraints on upside.
LongYield (independent Research Substack) · February 24, 2026Airbnb’s Illusion of Strength: Record Cash Flow, Weakening FoundationDetailed equity-research style report arguing that while Airbnb enters 2026 with 12.2 billion dollars in revenue, 4.6 billion dollars in free cash flow (38% margin), and 10.6 billion dollars in liquidity, the apparent strength masks structural fragilities in regulation, competition, and host economics. It frames the stock as roughly fairly valued at current levels (base‑case value around 132 dollars versus consensus 142 dollars), with asymmetric downside from spreading regulatory regimes (e.g., NYC Local Law 18, Barcelona, Paris, Amsterdam, Berlin), softening U.S. host occupancy, and accelerating Booking.com alt‑accommodations, balanced by international growth and product innovation as offsetting positives.
Ultra Stock Analysis Pro · February 13, 2026Airbnb, Inc. (ABNB) – ANALYST REPORTQuantitative analyst report combining technical backtests with fundamental metrics; it assigns a HOLD rating with consensus analyst target price of 144.11 dollars (about 18.8% upside from the report’s 121.35‑dollar reference price), and summarizes Street sentiment as 16 Buy, 23 Hold, and 6 Sell with very high institutional ownership (~84.6%). The report stresses moderate growth (revenue up ~12%), strong cash generation (free cash flow about 3.5 billion dollars, gross margin ~83%, profit margin ~20%), and robust ownership patterns, but recommends waiting for stronger technical “confluence” signals before entry, noting earnings growth volatility, premium valuation multiples, and typical market and regulatory risks as key concerns.
Long-term Investing (Sanjiv, Substack) · August 24, 2025Airbnb (ABNB) – Q2 2025 Results and Strategic UpdateFundamental follow-up note on Airbnb after Q2 2025, highlighting a 12.7% year‑over‑year revenue increase to 3.1 billion dollars, 134 million nights and seats booked (+7%), take rate of 13.5%, and net income of 642 million dollars with EPS of 1.03 beating consensus. The author assesses strategy around “perfect the core, accelerate global markets, expand beyond stays,” is positive on experiences and services, international expansion, and strong free cash flow and buybacks, but concludes the shares are slightly overvalued (DCF fair value 113–120 dollars, forward P/E in the mid‑20s) and likely to return only 6–8% annually, leading to a watch‑rather‑than‑buy stance.
World Trade Securities · August 7, 2025Airbnb – Equity Research NoteProfessional equity research PDF assigning a Neutral rating and a 130‑dollar December 2026 price target (around 10% upside from a cited 118.19‑dollar price at publication), based on 2023–2027 forecasts that show revenue rising from 9.9 billion to 14.7 billion dollars and EBITDA margins in the mid‑30s. The report’s valuation section benchmarks ABNB’s P/E (~17.8x 2025E), EV/EBITDA (~17.6x 2025E), and strong ROE (~49%+) against peers such as Booking, Expedia, and Trip.com, arguing Airbnb deserves a premium multiple due to leadership in short‑term rentals and high margins, but warning that macro cyclicality, intense OTA competition, regulatory challenges, and operational complexity could cap upside.