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Bernstein Sticks to Its Buy Rating for Pinterest (PINS)

Tipranks - Tipranks - Sat Mar 7, 5:58AM CST

In a report released yesterday, Mark Shmulik from Bernstein maintained a Buy rating on Pinterest, with a price target of $20.00. The company’s shares closed yesterday at $19.75.

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Shmulik covers the Communication Services sector, focusing on stocks such as Pinterest, Reddit Inc Class A, and Meta Platforms. According to TipRanks, Shmulik has an average return of 19.7% and a 66.12% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pinterest with a $24.11 average price target, which is a 22.08% upside from current levels. In a report released yesterday, TipRanks – PerPlexity also upgraded the stock to a Buy with a $21.50 price target.

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Based on Pinterest’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.32 billion and a net profit of $277.07 million. In comparison, last year the company earned a revenue of $1.15 billion and had a net profit of $1.85 billion

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