Airbnb rises after annual revenue growth forecast lifted
ABNB•Airbnb expects annual revenue growth in the high teens, up from its earlier forecast of at least the mid-teens, and authorized a new $12 billion share repurchase program. Its shares rose 11.9% in premarket trading.
1. Forecast and buyback
Airbnb raised its annual revenue growth forecast to the high teens from at least the mid-teens and authorized a new $12 billion share repurchase program. Its shares rose 11.9% to $190.35 in premarket trading. Jefferies raised its price target to $215 from $170 after a quarter that beat expectations and showed faster growth across regions, markets and new customers.
