Airbnb is on course to turn out to be the most important travel western travel platform over the subsequent five years, making this entry point for investors, in line with Bernstein. Richard Clarke initiated Airbnb as outperform with a price goal of $143, indicating an upside of about 30% from Tuesday’s close of $110.81. The stock traded barely lower within the premarket. He sees the holiday rental industry valued at about $150 billion, noting the space could see high single- to low-digit growth going forward. He also said that Airbnb is well-positioned to grow in other markets including hotels, experiences and long-term stays. “Airbnb a novel business inside travel, with a triple moat from an aspirational brand, a novel product set and a loyal customer base – all focused in considered one of travel’s fastest swim lanes,” Clarke said in a Tuesday note to clients. Clarke said Airbnb must be the most important western travel platform by 2027, while the consensus is for the corporate to succeed in this feat by 2029. It must also be probably the most profitable online travel agency inside two years, beating out competitors corresponding to Expedia and Booking.com. Bernstein sees a record-setting third quarter that’s 5% ahead of estimates on room nights surpassing 100 million. Airbnb has been capable of grow while cutting marketing costs, which points to the strength of the brand, he said. To make sure, there are concerns about supply and meeting demand, as the corporate breaks in to latest markets. There’s also been speak about Airbnbs being “hotels with chores” and complaints about additional fees, Clarke said. The looming threat of greater regulation stays, though Clarke said those concerns have diminished and the platform has shown its ability to preform regardless. And Airbnbs, despite being considered a “good value,” are still costlier than hotels, that are currently still depressed from the pandemic. But “any modest backlash against Airbnb can be not stifling demand,” Clarke said. And now’s time to purchase given its “attractive” entry point. “Even when you’ve gotten a negative outlook on travel demand, we’d see Airbnb as the very best stock to own given its more defensive position, faster growth and more attractive valuation on a 4-year forward multiple,” he added. Airbnb shares have struggled this 12 months, losing 33%. — CNBC’s Michael Bloom contributed to this report.