UBS Lowers Airbnb (ABNB) PT to $145, Cites ChatGPT User Adoption Concerns

Airbnb Inc. (NASDAQ:ABNB) is one of the best up and coming stocks to buy right now. On October 24, UBS analyst Stephen Ju lowered the firm’s price target on Airbnb to $145 from $148 and kept a Neutral rating on the shares. UBS is concerned about shifts in internet traffic mix as ChatGPT user adoption grows, although the firm believes that Airbnb is the most insulated from this disruption.

A day prior, on October 23, KeyBanc transferred coverage of Airbnb to analyst Sergio Segura, who rates the stock at Sector Weight. Segura believes that Airbnb shares are fairly valued, given the slower expected earnings growth and minimal margin expansion. On this day, KeyBanc initiated coverage on major online travel agencies due to a bullish view on the sector.

UBS Lowers Airbnb (ABNB) PT to $145, Cites ChatGPT User Adoption Concerns

Analysts project that global travel demand will grow roughly in line with the global GDP, but they anticipate that online travel platforms will continue to outpace the broader industry. KeyBanc believes that Airbnb’s growth is moderating as the demand for alternative accommodations undergoes a normalization phase.

Airbnb Inc. (NASDAQ:ABNB), together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide.

While we acknowledge the potential of ABNB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ABNB and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.