Pinterest shares are trading higher after the company announced a stock repurchase program of up to $1 billion Class A common stock. Also, Citigroup upgraded the stock from Neutral to Buy and raised its price target from $31 to $36.
Portfolio Pulse from Benzinga Newsdesk
Pinterest has announced a stock repurchase program of up to $1 billion Class A common stock. Citigroup has upgraded the stock from Neutral to Buy and raised its price target from $31 to $36.
September 20, 2023 | 12:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Pinterest's stock repurchase program and Citigroup's upgrade could positively impact the company's stock price.
Stock repurchase programs often lead to a rise in the stock's price as it reduces the number of shares in circulation, increasing earnings per share. Additionally, upgrades from major financial institutions like Citigroup often lead to increased investor confidence and can drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100