As previously reported, Wedbush upgraded Pinterest (PINS) to Outperform from Neutral with a $38 price target The firm thinks the company is executing well against its user engagement and monetization strategies and remains on pace to deliver growth and profits in line with its multi-year guidance framework. Wedbush believes the reaction post Q3 results is “overdone,” with shares now trading for 11.6-times its 2026 adjusted EBITDA estimate for a business that is set to grow adjusted EBITDA at a 27% CAGR over the next three years.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PINS:
- Pinterest price target lowered to $39 from $45 at KeyBanc
- Pinterest upgraded to Outperform from Neutral at Wedbush
- Pinterest price target lowered to $40 from $46 at BMO Capital
- Nvidia trades on Dow for first time, Rivian reports downbeat Q3: Morning Buzz
- Pinterest price target lowered to $41 from $45 at Piper Sandler