• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Pinterest stock price forecast: Piper Sandler sees a 25% upside
Investing

Pinterest stock price forecast: Piper Sandler sees a 25% upside

by December 13, 2022
by December 13, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Pinterest Inc (NYSE: PINS) rallied this morning after a Piper Sandler analyst turned bullish on the image sharing platform citing “multiple tailwinds” for 2023.

Pinterest stock should be worth $30

Thomas Champion now sees upside in this social media stock to $30 that translates to about a 25% premium on its previous close.

He’s convinced that Pinterest will expand its footprint in ads next year, thanks to an improved product and the fallout at Twitter Inc. Champion sees its recent agreement with activist Elliott Management as a positive catalyst as well.

We like the new leadership and investor activism. The lows are likely already in.

Last week, Pinterest announced a layoff, which, the analyst expects, will also help with margins. Versus the start of 2022, Pinterest stock is down nearly 30% at writing.    

Pinterest Inc will continue to add users

In its latest reported quarter, Pinterest added 3.0 million monthly active users (MAUs) in the United States and Canada combined – a promising trend that Champion expects will continue moving forward.

Lastly, the analyst upgraded Pinterest stock to “overweight” because he sees a buyback coming.

Pinterest ended Q3 with $2.7 billion in cash. With ~$500 million in FY23E free cash flow by our model, it’s sufficiently profitable and over-capitalised. At 3Q, PINS said they continue to evaluate the broader capital allocation strategy.

Street is estimating about a 15% growth in revenue for 2023, which is quite conservative compared to the kind of growth we’ve seen at Pinterest in the past, Champion concluded.

The post Pinterest stock price forecast: Piper Sandler sees a 25% upside appeared first on Invezz.

You Might Also Like
  • Jefferies analyst reveals his top two biotech stocks for 2023
  • Hang Seng: How high can Hong Kong stocks surge?
  • Why is Tesla stock falling? 2023 begins with 14% decline
  • The Surprising Secret to Proper Portfolio Diversification Revealed
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Boeing lands the largest order for wide-body aircraft in U.S. history
next post
A homebuilder stock that could more than double from here

You may also like

Don’t fight US stocks during the Thanksgiving week

November 25, 2022

What is yield curve control, and what happened today in...

December 20, 2022

Retirement Strategies for Senior Citizens to Grow and Protect Their...

June 2, 2023

The 10 Best Options Trading Books

March 23, 2023

XRP price spikes 6% as crypto turns green – here’s...

December 27, 2022

Should I buy Coca-Cola shares in January 2023?

January 5, 2023

Stephanie Link just bought a homebuilder stock

December 16, 2022

Top 3 monthly dividend stocks to boost your income stream

November 25, 2022

Apple stock claims a near 2-year low, and sellers still...

December 28, 2022

Stock market soars as inflation comes in below expectations

December 13, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Apple reveals complex system of App Store fees to avoid E.U. fine of 500 million euros

      June 30, 2025
    • Week Ahead: As NIFTY Breaks Out, Change Of Leadership Likely To Keep The Index Moving

      June 28, 2025
    • 3 Stock Setups for the Second Half of 2025

      June 28, 2025
    • Fibonacci Retracements: The Key to Identifying True Breakouts

      June 27, 2025
    • All-Time Highs and An Upcoming Rate Cut: We’re Just Getting Started on This Move Higher

      June 27, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,618 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,900 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,593 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,557 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,433 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,152)
    • Investing (538)
    • Stock (2,640)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Apple reveals complex system of App Store fees to avoid...

      June 30, 2025
    • Week Ahead: As NIFTY Breaks Out, Change Of Leadership Likely...

      June 28, 2025
    • 3 Stock Setups for the Second Half of 2025

      June 28, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,152)
    • Investing (538)
    • Stock (2,640)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Cramer says he’s ‘impressed’ of this...

    January 16, 2023

    What’s happening to the Roblox stock...

    December 15, 2022

    Tesla’s stock price crashes, down -9%...

    January 3, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here