Pinterest Stock Is Moving Higher Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Pinterest Inc (NYSE:PINS) shares are trading higher following an upgrade from Evercore ISI Group analyst Mark Mahaney. The analyst upgraded Pinterest from an In-Line rating to an Outperform rating and raised the price target from $30 to $41. The upgrade is based on stabilizing digital ad spend, operational improvements, potential for material revenue growth and substantial margin improvement, and reasonable current valuation. Keybanc analyst Justin Patterson also maintained Pinterest with an Overweight rating and raised the price target from $32 to $35.
July 18, 2023 | 12:51 pm
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Pinterest shares are trading higher following an upgrade from Evercore and a raised price target. The company's operational improvements and stabilizing digital ad spend are seen as positive indicators for potential revenue growth and margin improvement.
The upgrade from Evercore and the raised price target are positive indicators for Pinterest's stock. The analyst's comments about the company's operational improvements and stabilizing digital ad spend suggest potential for revenue growth and margin improvement, which could further boost the stock price.
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IMPORTANCE 80
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