Amazon Teams Up With TikTok, Pinterest For Shoppable Ads: Analyst Sees $1B Payoff
Portfolio Pulse from Surbhi Jain
Amazon is partnering with TikTok and Pinterest to integrate shoppable ads, allowing users to buy products directly from Amazon without leaving the apps. This move is expected to add $1 billion in gross merchandise value and improve advertising ROI by 20%. BofA analyst Justin Post maintains a Buy rating on Amazon with a price target of $210, indicating a 26.7% upside.
August 09, 2024 | 7:59 pm
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Amazon's partnership with TikTok and Pinterest to integrate shoppable ads is expected to add $1 billion in gross merchandise value and improve advertising ROI by 20%. BofA analyst Justin Post maintains a Buy rating with a $210 price target, indicating a 26.7% upside.
The partnership with TikTok and Pinterest is a strategic move to enhance Amazon's presence in social media and digital commerce. The potential $1 billion increase in GMV and a 20% improvement in ad ROI are significant positive indicators for Amazon's stock. The analyst's Buy rating and $210 price target further support a positive short-term impact on AMZN's stock price.
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