Wall Street Analysts See Upside Potential for 5 Stocks with Rising Price Targets

03. Pinterest, Inc. (NYSE:PINS)

Upside Potential: 18%

On September 20, JPMorgan analyst Doug Anmuth adjusted his outlook on Pinterest, Inc. (NYSE:PINS). Anmuth has raised the price target for Pinterest, Inc. (NYSE:PINS) from $30.00 to $32.00, indicating a slightly more positive stance on the stock’s potential. However, he has maintained a “Neutral” rating for the company, signifying a cautious approach. As of the most recent market data, Pinterest, Inc. (NYSE:PINS) is trading at $27.02, reflecting a 3.1% increase from its previous trading price. This upward movement in the stock price aligns with the slight optimism conveyed by JPMorgan through the upward revision of the price target. Anmuth’s decision to raise the price target for Pinterest, Inc. (NYSE:PINS) to $32.00 suggests he sees some room for growth beyond the current trading price. However, it’s important to note that the “Neutral” rating implies a balanced view, indicating that the analyst may have reservations about the stock’s performance despite the increased price target. Pinterest, Inc. (NYSE:PINS) operates in the competitive and dynamic social media and digital advertising space. JPMorgan’s price target adjustment reflects its assessment of Pinterest, Inc. (NYSE:PINS) growth potential within this industry, considering various market dynamics and factors affecting user engagement and revenue generation.

ClearBridge Multi Cap Growth Strategy made the following comment about Pinterest, Inc. (NYSE:PINS) in its Q2 2023 investor letter:

“The addition of Pinterest, Inc. (NYSE:PINS), a social media platform for visual discovery which allows users to find ideas and inspiration, also acts to diversify our traditional media exposure. We believe the company is poised to take share in the large and growing market for online advertising. Under the direction of new CEO Bill Ready, we see levers for improved user engagement and monetization. While relatively new to the company, we are encouraged by Ready’s track record in prior company roles as well as early signs of progress from his efforts. Pinterest is profitable on a non-GAAP basis today, but we also see opportunities for meaningful margin expansion as revenue scales.”