Bullish thesis for $PINSNYSE:PINS has been making headlines lately with its impressive performance and promising future prospects. Let's dive into the latest developments and explore the bullish thesis for this innovative company.
Strong Financial Performance: In 2023, Pinterest achieved a record-high ~90% incremental EBITDA margins, and the Street models are projecting ~40% and ~50% in 2024 and 2025, respectively. This indicates a robust growth trajectory for the company.
Evercore ISI recently reiterated its Outperform rating on Pinterest and raised the price target from $45 to $50. The firm cited four key reasons for this upgrade, including Pinterest's unique position in the social media landscape, its strong user engagement, and the potential for further monetization of its platform.
Amazon Partnership: Pinterest's partnership with Amazon has been a game-changer. Users can now purchase products directly from Amazon through the Pinterest platform, which has led to increased user engagement and revenue growth.
Technical Analysis: The Pinterest stock has been on a bullish trend in recent months and has broken through a major resistance level at $37 giving it great positive momentum to continue rising in price.
Have entered an Options Call contract targeting $54 and posted in the free community 😉 Will be providing updates.