Missed Out On Meta Action? Analyst Says This Rival Social Media Stock Can Run Up 30%
Portfolio Pulse from Shanthi Rexaline
Pinterest, Inc. (NYSE:PINS) received a 30% price target increase from KeyBanc Capital Markets, raising it from $37 to $48, ahead of its Q4 earnings release. Analyst Justin Patterson maintained an Overweight rating, citing expected solid Q4 performance with 14% revenue growth and potential for 15-17% future growth. Factors contributing to the positive outlook include a strong ad market, product innovation, and partnerships. Patterson also anticipates EBITDA to be 4% above consensus at $370 million, driven by recent expense efficiencies.
February 05, 2024 | 10:55 am
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Pinterest's price target was raised to $48 by KeyBanc, indicating a 21% upside potential. The optimism is based on expected solid Q4 earnings, driven by a strong ad market and product innovations.
The price target increase reflects KeyBanc's confidence in Pinterest's Q4 performance and future growth prospects. The analyst's optimism is based on expected solid revenue growth, driven by a strong ad market for retail/e-commerce and CPG, product innovations, and partnerships. Additionally, the anticipated EBITDA being 4% above consensus due to expense efficiencies further supports the positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100