Pinterest Shares Surge As 7 Analysts Revise Forecasts After Strong Q3 Print
Portfolio Pulse from Priya Nigam
Shares of Pinterest Inc (NYSE:PINS) surged after the company reported strong Q3 earnings. Several analysts revised their forecasts, with BofA Securities upgrading the rating from Neutral to Buy and raising the price target from $32 to $37. KeyBanc Capital Markets, Roth Capital Partners, RBC Capital Markets, Wedbush, Piper Sandler, and Goldman Sachs also raised their price targets. The analysts highlighted Pinterest's improved position, better expense discipline, growth reacceleration, and successful new ad products.
October 31, 2023 | 4:31 pm
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NEUTRAL IMPACT
Amazon's partnership with Pinterest was mentioned by analysts, but its impact was considered limited in the quarter.
Analysts mentioned Amazon's partnership with Pinterest in their notes, but they considered its impact to be limited in the quarter. This is unlikely to have a significant impact on Amazon's stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Meta Platforms was mentioned in comparison with Pinterest, but no specific impact on the company was discussed.
Meta Platforms was mentioned in comparison with Pinterest in the analysts' notes, but no specific impact on the company was discussed. This is unlikely to have a significant impact on Meta's stock in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30
NEUTRAL IMPACT
Snap Inc was mentioned in comparison with Pinterest, but no specific impact on the company was discussed.
Snap Inc was mentioned in comparison with Pinterest in the analysts' notes, but no specific impact on the company was discussed. This is unlikely to have a significant impact on Snap's stock in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30
POSITIVE IMPACT
Pinterest's strong Q3 earnings led to a surge in its shares and positive revisions from several analysts. The company's improved position, better expense discipline, and successful new ad products were highlighted.
The strong Q3 earnings report from Pinterest led to a surge in its shares. This was further boosted by positive revisions from several analysts, who highlighted the company's improved position, better expense discipline, and successful new ad products. This is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100