2023-12-18 13:12:06 ET
Pinterest ( NYSE: PINS ) shares were on track for their eighth consecutive session of gains on Monday, as the stock rose 1.3% to $37.86 in afternoon trade, its highest since Nov. 2021.
The San Francisco, California-based image-sharing platform gained over 9% in the preceding seven sessions. Overall, the stock has gained more than 60% in value so far this year.
November has been a favourable month for the company, with 15 sessions in green and six sessions in red.
Looking at Seeking Alpha's Quant Rating, PINS has a Hold rating with a score of 3.46 out of 5. The company received an A+ for momentum, while its valuation prospects have been graded a F.
Turning to the Wall Street community, 20 analysts give PINS a Strong Buy, while four are Buy on the stock. 13 analysts have given the stock a Hold recommendation, but there is no recommendation for Sell.
Seeking Alpha analysts are bullish and see the stock as a Buy.
Seeking Alpha analyst Stephen Ayers pointed out that Pinterest's robust balance sheet, with significant cash reserves and low debt, is commendable, reflecting financial prudence and stability.
“However, Pinterest still has ground to cover before it can be considered a compelling buy,” Ayers added.
More on Pinterest
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Image-sharing platform Pinterest on track to hit eight-day winning streak