Pinterest Stock Is Popping After Hours: What's Going On?
Portfolio Pulse from Adam Eckert
Pinterest Inc (NYSE:PINS) shares are trading higher after hours following an upgrade from Evercore ISI Group analyst Mark Mahaney. The analyst upgraded Pinterest from In-Line to Outperform and raised the price target from $30 to $41. The upgrade is based on evidence of stabilizing digital ad spend, operational improvements, potential for material revenue growth and margin improvement, and reasonable current valuation.
July 17, 2023 | 9:29 pm
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POSITIVE IMPACT
Pinterest's stock is likely to rise in the short term due to an upgrade from Evercore and a raised price target from $30 to $41.
The upgrade from Evercore and the raised price target are positive indicators for Pinterest's stock. This suggests that the company's financial performance is improving, which is likely to attract more investors and drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100