Jefferies upgraded Pinterest (PINS) and Snap (SNAP) to "Buy" from "Hold," citing "catalysts" for 2024 revenue growth. According to the team led by analyst James Heaney, Snap's setup into year-end looks 'compelling' with revenue growth likely to reaccelerate into the 'mid-teens' next year. Jefferies call on Pinterest is based on 'increasing conviction' in the company's ability to grow revenue more than 20% in fiscal year 2024. Yahoo Finance Live breaks down the key points from the report. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Snap, Pinterest, Hewlett Packard Enterprise, and an Outperform initiation at Ecolab. Snap (NYSE:SNAP) shares rose more than 2% pre-market today after Jefferies upgraded the company to Buy from Hold and raised its price target to $16.00 from $12.00.
Eleven of the world's biggest tech companies, including Amazon.com, Alphabet's Google and Microsoft, will sign an agreement with the British government on Thursday to step up their efforts to tackle online fraud, the interior ministry said. Under the "Online Fraud Charter," due to be signed at a meeting chaired by Interior Minister James Cleverly in London, the companies pledge to take further action to block and remove fraudulent content from their sites, the government said. In addition to Amazon, Google and Microsoft, the voluntary agreement will be signed by eBay, Meta Platforms' Facebook and Instagram, Microsoft's LinkedIn, Match Group, Snap's Snapchat, ByteDance's TikTok and Google's YouTube, with a pledge to implement the measures that apply to their companies within six months.