Backtested performance is not an indicator of future actual results. Also, with an average price target standing at $28.86, Pinterest stock only carries 3.72% upside potential.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. Pinterest has a Moderate Buy consensus rating, with Hold recommendations outweighing Buy by just over two to one. Further restructuring efforts are set to follow.Īnalysts, however, clearly still have concerns.
Now, it’s also moving to end some of its office leases, which will continue lowering expenses. Back in December, Pinterest announced a load of layouts. While it’s clearly working to expand its revenue-generating capabilities, it’s also working to reduce its expenses. This news actually comes at a good time for Pinterest. Erickson even went so far as to hike his price target on Pinterest to $30 from his original $26. From there, that would help drive profitability and boost share prices as investors look to get a piece of the action. With Google on its side, Pinterest will likely be better able to find advertisers for its unique brand of content. Word from RBC Capital Markets analyst Brad Erickson suggests that the duo would build a “media network partnership” arrangement that gives Pinterest even more room to run. As a result, Pinterest is up, if only slightly, in Monday afternoon’s trading. This partnership would see Pinterest ( NASDAQ:PINS) team up with Google ( NASDAQ:GOOG). With all the stories coming out about tech layoffs, there’s one new surprise afoot: a possible new partnership.
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