Pinterest Stock ( NYSE:PINS )
After reporting its results for the fourth quarter , Pinterest ( NYSE:PINS ) had a strong sell-off in extended-hours trading. However, the image-sharing social network recovered from this drop as Wall Street companies came to their defense and cited increasing trends.
The analyst at Wells Fargo named Brian Fitzgerald, who has an overweight rating and a per-share price target for the Pinterest stock, cited the increasing monetization stock and engagement metrics as reasons to be optimistic. Also, according to Fitzgerald, “sessions expanded faster than users,” and the ratio of weekly active users to monthly active users touched a record 61%.
Fitzgerald noted that “Macro remains hard and [near-term revenue] forecast is below our earlier projections,” but that “Pinterest” looks to be well positioned as a macro business. He cited the previously reported success in engagement, “strong” Generation Z trends, the improvement in sessions and monetization, and sustained work on shopping and expenditures.
Analyst Brian White from Monness, Crespi, and Hardt was a bit more cautious and reiterated the firm’s neutral rating. However, he did highlight that the business has made gains in the cost structure and progress in acquiring consumers.
White said in a note to clients that the conference’s tone was “mixed,” with Pinterest stressing greater engagement on the platform, a leaner cost structure, and weak trends in digital ad expenditure. “The tone of the call was mixed,” White wrote.
Nevertheless, White said...
Click here to read the full article on PressReach.com .Subscribe to the PressReach RSS feeds:
- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube