BUZZ-Airbnb stock rises as it raises annual revenue growth forecast

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November 6 - ** Vacation rental platform Airbnb (ABNB.O) shares rose 14.03% to $194, on track for the biggest single-day gain since August 9

** The San Francisco-based company (link) expects its annual revenue growth rate to reach the “high end of 10%,” higher than its previous forecast of “at least mid-10%”

** The company has approved a new $12 billion share buyback program

** Jefferies raised ABNB’s target price from $170 to $215, suggesting an upside of about 26% from the previous session’s closing price, after the company’s quarterly results not only beat expectations but also raised guidance, indicating faster growth across regions, markets, and new customers

** Of 44 analysts, 19 rate it “Buy,” 16 “Hold,” 8 “Strong Buy,” and 1 “Sell”; the median target price is $200 — LSEG data

**Including today’s gain, the stock is up over 25% year to date

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