KeyBanc Raises Pinterest, Inc. (NYSE:PINS) Target Price by $ 16 To $ 60

Pinterest, Inc. (NYSE:PINS) shares could still deliver more than 13.21 percent upside potential from the current levels. This is based on the revised price target of KeyBanc at $ 60.00 on the stock. Incidentally, the brokerage raised its price objective by $ 16 from its earlier level of $ 44.00. However, KeyBanc has retained its Overweight rating on Pinterest, Inc. shares, Benzinga reported.

Shares of Pinterest, Inc. traded up $ 2.19 or 4.31 percent on Friday, reaching $ 53.00 with volume of 16.40 million shares. Pinterest, Inc. has traded high as $ 53.23 and has cracked $ 49.63 on the downward trend According to the previous trading day, closing price of $ 53.00, representing a 403.07 % increase from the 52 week low of $ 10.10 and a 4.55 % decrease over the 52 week high of $ 53.23.

With respect to the key metrics, Pinterest, Inc. stock has advanced $ 24.03 or 83.00 percent, reaching $ 28.97 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 11.49 or 28.00 percent, before arriving at $ 41.51 during the SMA50-day period.

Pinterest, Inc. recently reported second quarter financial results on July 31, 2020, before market open, the San Francisco based company revealed loss for the second quarter of $ 0.07 per share, from the revenue of $ 272.49 million. The quarterly revenues expanded 4.30 percent compared with the same quarter last year. According to street consensus, PINS was expected to report 2Q20 loss of $ 0.13 per share from revenue of $ 251.24 million. The bottom line results beat street analysts by $ 0.06 or 46.15 percent, at the same time, top line results outshined analysts by $ 21.25 million or 8.46 percent.

Moving ahead, the consensus estimates from Thomson Reuters for the third quarter are income of $ 0.02 per share from $ 377.68 million in revenue. For the full year, analysts predict revenues of $ 1453.15 million, while looking forward to income of $ 0.04 per share.

Pinterest, Inc. provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.