Pinterest (PINS.US) shares jumped more than 8.0% after Piper Sandler upgraded its stance on the social media platform to 'overweight' from 'neutral', with a new price target of $30 per share from $25, as it believes that company's stock price may gain 25% on a stronger ad outlook. Analysts pointed out that the 2023 Ad buyer survey indicated an improved ad product and rising market share and there is a potential for a stock buy-back.
Pinterest (PINS.US) stock launched today’s session with a bullish price gap, however buyers failed to break above key resistance at $26.70, which coincides with 78.6% Fibonacci retracement of the upward wave launched in March 2020. As long as price sits below, a downward move towards the local support zone around $23.80 may be launched. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.