Up 45% in 12 Months, Can Pinterest Stock Keep Rising?
Shares of Pinterest (NYSE: PINS) have been rising in value this year and they now trade around their 52-week high. Analysts from Wells Fargo have becoming bullish on the social media stock as well, recently setting a price target of $34.
Should investors expect that the tech company can continue building off its recent gains, or has the stock hit a peak?
Pinterest generates revenue through ads, and so how it performs depends on how well it's attracting users to its site, and how much advertisers want to spend.
Source Fool.com