Pinterest (NYSE: PINS) shares were rising in the premarket on October 6, as Goldman Sachs (NYSE: GS) analyst Eric Sheridan ຍົກລະດັບ the company, indicating that there is now a positive risk-reward correlation at the current price levels.
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 2023 and 2024.
“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.).”
At the time of writing, in premarket, the shares popped 5% on the positive news as investors rushed into the stock. At market open, shares surged another 1% to a total of 6% gain at the time of writing on October 6.
PINS chart and analysis
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. Over the past month, shares have ຊື້ຂາຍ from $22.13 to $25.91, bouncing between the 200-day and 50-day moving average.
ການວິເຄາະດ້ານວິຊາການ ສະແດງໃຫ້ເຫັນເປັນ ເຂດສະ ໜັບ ສະ ໜູນ from $23.48 to $23.61 and a resistance line at $26.68.
ນັກວິເຄາະໃຫ້ຄະແນນຫຼັກຊັບເປັນ 'ຊື້ປານກາງ', ໂດຍລາຄາສະເລ່ຍໃນ 12 ເດືອນຂ້າງຫນ້າເຖິງ $26.32, ສູງກວ່າ 6.86% than the current trading price of $24.63. Notably, out of 21 Wall Street analysts, eight have a ‘buy’ rating, and thirteen have a ‘hold’ rating.
ອະນາຄົດສົດໃສ
With the recent speculations that PayPal (NASDAQ: PYPL) ອາດຈະເປັນ pursuing the acquisition of Pinterest, as well as the strong revenue growth seen during their ລາຍຮັບຫຼ້າສຸດ, it seems that the momentum is turning positive for PINS.
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.
ຊື້ຮຸ້ນດຽວນີ້ກັບນາຍໜ້າແບບໂຕ້ຕອບ – ເວທີການລົງທຶນທີ່ກ້າວໜ້າທີ່ສຸດ
ຂໍ້ສັງເກດ: ເນື້ອຫາຢູ່ໃນເວັບໄຊທ໌ນີ້ບໍ່ຄວນພິຈາລະນາຄໍາແນະນໍາດ້ານການລົງທຶນ. ການລົງທຶນແມ່ນຄາດຄະເນ. ເມື່ອລົງທຶນ, ທຶນຂອງເຈົ້າມີຄວາມສ່ຽງ.
Source: https://finbold.com/pinterest-pins-jumps-at-market-open-following-an-upgrade-by-goldman-sachs/