Airbnb story is ’firming up’. Analyst explains why

Investing.com -- Mizuho says the investment case for Airbnb in 2026 is strengthening, with the firm reiterating an Outperform rating and calling the stock one of its “top picks” for the year.

Analyst Lloyd Walmsley writes that the “Airbnb story for 2026 [is] firming up,” citing a series of developments that are improving sentiment around the company.

A central driver is Airbnb’s new chief technology officer, Ahmad Al-Dahle. Walmsley notes that CEO Brian Chesky used a CNBC interview to highlight how the hire fits into the company’s long-term ambitions.

Chesky described the appointment as “central to Airbnb’s broader transformation beyond short-term rentals,” a message that aligns with Mizuho’s view that AI could help the platform integrate more hotel supply and roll out AI-powered search.

Mizuho adds that it now feels “more confident in Airbnb AI product” after the hire and is more optimistic about the AI opportunity overall.

The firm also points to improving investor sentiment, saying it has been “encouraged by modestly better reception to our bull case” during recent client meetings.

CEO commentary on the travel outlook also supports the thesis. On CNBC, Chesky is said to have called the travel backdrop “very stable and incredibly resilient,” and said the company is “expecting AI to increase the growth.”

He added that AI could support margin expansion because “you don’t need as many people with AI to do a job… [and] AI accelerates the growth of your business.”

Mizuho expects catalysts this quarter from book-now-pay-later features, hotel traction, and guidance for stable margins. The firm maintained a $156 price target on ABNB, saying the valuation multiple could expand as confidence builds through 2026.

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