#PINTEREST STOCK PRICE TARGET UPGRADE#

Valuation updateįirst things first: we will acknowledge that Pinterest, now technically in a bear market after falling 40% from peaks, is not as egregiously expensive as it used to be (one of my chief arguments against the stock earlier I had sounded off a bearish note on the stock in the mid-$70s).Īt current share prices near $55, Pinterest trades at a market cap of $35.31 billion.

The question for investors now: is Pinterest reaching a buy point? In my view, the answer is no: while it's true that Pinterest's post-correction valuation has reached more interesting levels, I see plenty of fundamental risks from the company's user deceleration ahead. Since the company's most recent earnings release in late July, shares of Pinterest have plunged to YTD lows, a reflection of shocking user defection. The pandemic and the surge in internet activity and usage only helped to fuel the growth story for Pinterest.īut now, after a years-long and fierce rally in Pinterest shares, the bullish story for this name is getting tired. Pinterest was highly valued for a product that was conducive toward advertising for products, and for years the company enjoyed fierce revenue growth. For years, investors cheered this differentiated social media platform that catered to a more mature, purse-powerful audience. The bull story on Pinterest ( NYSE: PINS) is starting to unravel. When investing, your capital is at risk.Seewhatmitchsee/iStock Editorial via Getty Images

#PINTEREST STOCK PRICE TARGET UPGRADE#

The current analyst upgrade could serve as a boon for the shares, as investors who were ambivalent about the stock, could look for an entry position here and push the price action higher.īuy stocks now with Interactive Brokers – the most advanced investment platformĭisclaimer : The content on this site should not be considered investment advice. With the recent speculations that PayPal (NASDAQ: PYPL) may be pursuing the acquisition of Pinterest, as well as the strong revenue growth seen during their latest earnings, it seems that the momentum is turning positive for PINS. Wall Street analysts’ price targets for PINS. Notably, out of 21 Wall Street analysts, eight have a ‘buy’ rating, and thirteen have a ‘hold’ rating. See more stocks here.Īnalysts rate the stock a ‘moderate buy,’ with the average price in the next 12 months reaching $26.32, 6.86% higher than the current trading price of $24.63. Technical analysis shows a support zone from $23.48 to $23.61 and a resistance line at $26.68.

Over the past month, shares have traded from $22.13 to $25.91, bouncing between the 200-day and 50-day moving averages. The short-term trend is positive, while the long-term trend is neutral, as PINS outperformed 80% of 80 stocks in the Interactive Media & Services industry. At market open, shares surged another 1% to a total of 6% gain at the time of writing on October 6. “Our recent work has given us increased confidence in Pinterest’s ability to grow monetization and capture a greater share of ad budgets as management executes against its shopping/commerce opportunity and, over the long-term, we see Pinterest as positively levered to a number of long-term secular growth themes (engagement & ad spend shifting online, social commerce, creator economy, etc.).”Īt the time of writing, in premarket, the shares popped 5% on the positive news as investors rushed into the stock. Sheridan raised the rating from ‘neutral’ to ‘buy’ and increased the target price from $24 to $31, pointing to rising engagement trends and potential for revenue increase in 20.

Pinterest stock price target