tl;dr
Pinterest (NYSE:PINS) and Snap (NYSE:SNAP) were both upgraded at Jefferies on Thursday as the bank sees growth ahead for both tech companies. Snap (SNAP) was bumped to Buy from Hold at Jefferies with a $16 price target, up from $12. Shares were up 9% in early morning trading. The bank sees the wor...
Pinterest (NYSE:PINS) and Snap (NYSE:SNAP) were both upgraded at Jefferies on Thursday as the bank sees growth ahead for both tech companies.
Snap (SNAP) was bumped to Buy from Hold at Jefferies with a $16 price target, up from $12. Shares were up 9% in early morning trading. The bank sees the worst of the headwinds for Snap behind the company and there's a pathway back to revenue growth over the next three to five years. Snap's underperformance comes from the rebuild of the direct response, or DR, ad platform, which drove declining revenue for the first time ever in the first two quarters of this year. Jefferies raised its 2024 and 2025 sales targets by 3% each. The stock has a HOLD rating from Seeking Alpha authors, while Wall Street analysts rate it a HOLD. Seeking Alpha's quant system, which consistently beats the market, rates the stock a HOLD.
Pinterest (PINS) was bumped to Buy from Hold with a $41 price target up from $32. Shares were up 4.5% in morning trading. Jefferies sees material upside for earnings with increased confidence in ad pricing tailwinds and more durable than expected user growth and engagement gains. The company's fourth-quarter sales guidance of 11% to 13% growth year-over-year is conservative and, barring an unexpected macro slowdown, the bank expects a beat. Jefferies raised its 2024 sales estimates by 3% and 2025 estimates by 4%. The stock has a BUY rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. Seeking Alpha's quant system, which consistently beats the market, rates the stock a HOLD.
More about Pinterest Inc
Pinterest Inc. is a technology company that provides a visual discovery engine, with a market cap of $22.44 billion. The stock has a current price-to-earnings (P/E) ratio of -0.32, indicating negative earnings. The stock has shown a 4.373% decrease in the last quarter and a -0.0743% decrease in the last month. The Relative Strength Index (RSI) is at 34.97, suggesting the stock is oversold. The company's financials show a net income of $2.95 billion. The market sentiment for Pinterest Inc. is currently bearish, with a potential for further downside given the negative trends and performance.
More about Snap Inc
Snap Inc is a camera company based in the United States and internationally. With a market capitalization of approximately $21.16 billion, the stock has shown a decrease of 0.86% in the last trading session, closing at $2.847. The stock has exhibited a bearish trend, with a decline of 0.3% over the past week. Market sentiment towards Snap Inc is currently neutral, with trading volume at 4,544,563,000 and a price-to-earnings ratio of 10.14. Despite a recent uptick of 0.053, potential risks and uncertainties should be carefully considered, as past market behavior is not always a reliable indicator of future performance.
More about Amazon.com Inc
Amazon.com Inc. is a prominent player in the retail-catalog & mail-order houses industry, with a market capitalization of over $1.5 trillion. The stock has been performing well, with a current price of $172.94 and a 1-year return of 76.98%. The Relative Strength Index (RSI) of 53.95 indicates a neutral sentiment, while the Bollinger Bands show a standard deviation of 2.357, suggesting moderate volatility. The company's market sentiment remains positive, reflecting its strong brand value and market influence. However, potential risks and uncertainties in the market should be carefully considered, as past performance is not always indicative of future results.
Disclaimer:
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