Bulletin
Investor Alert

Market Pulse Archives

Aug. 10, 2020, 11:19 a.m. EDT

Pinterest stock gains after Morgan Stanley upgrade

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Pinterest Inc. (PINS)
  • X
    Facebook Inc. Cl A (FB)
  • X
    Amazon.com Inc. (AMZN)

or Cancel Already have a watchlist? Log In

By Emily Bary

Shares of Pinterest Inc. /zigman2/quotes/211319641/composite PINS +4.31% are up 1.4% in Monday morning trading after Morgan Stanley analyst Brian Nowak upgraded the stock to overweight from equal weight and raised his price target to $44 from $34. The company is "driving/benefitting from accelerating e-commerce and social shopping," Nowak wrote in a note to clients. He likened Pinterest and Facebook Inc. /zigman2/quotes/205064656/composite FB +2.40% to "social online malls" that could become increasingly important with the COVID-19 crisis changing the way people shop. Pinterest is the "purest play" on this trend, in Nowak's view, as the company saw a big surge in user growth in the second quarter and now is in a place to monetize this heightened engagement with better targeting capabilities and automatic bidding for traffic objectives. Such improvements helped drive "structurally faster ad growth" for Facebook, Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +0.88% , and Snap Inc. /zigman2/quotes/205087158/composite SNAP +10.78% in the past, and now Nowak expects that Pinterest could see similar trends. Pinterest shares have gained 79% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.34% has increased 14%.

/zigman2/quotes/211319641/composite
US : U.S.: NYSE
$ 53.00
+2.19 +4.31%
Volume: 16.71M
Oct. 23, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$30.51 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 284.79
+6.67 +2.40%
Volume: 17.54M
Oct. 23, 2020 4:00p
P/E Ratio
34.79
Dividend Yield
N/A
Market Cap
$792.31 billion
Rev. per Employee
$1.57M
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,204.40
+28.00 +0.88%
Volume: 3.47M
Oct. 23, 2020 4:00p
P/E Ratio
123.17
Dividend Yield
N/A
Market Cap
$1591.03 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 43.17
+4.20 +10.78%
Volume: 206.47M
Oct. 23, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$58.06 billion
Rev. per Employee
$409,309
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,465.39
+11.90 +0.34%
Volume: 2.16B
Oct. 23, 2020 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.