![]() It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista has a long-term earnings growth expectation of 14.2% and delivered an earnings surprise of 14.2%, on average, in the trailing four quarters. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. ANET, sporting a Zacks Rank #1, is likely to benefit from strong momentum and diversification across its top verticals and product lines. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Pinterest currently carries a Zacks Rank #3 (Hold). The stock has gained 5.3% in the past year against the industry’s decline of 32.5%. The company has been making continuous efforts to absorb creators’ publishing videos and live streams to make the shopping experience swift and easy for customers. Pinterest and The Yes share a common vision of making it easy for customers to find products matching their tastes and style. The acquisition of the AI-powered, high-tech fashion-shopping platform, The Yes, has further enabled it to steer the evolution of its features and merchants. Pinterest’s Verified Merchants Program allows brands to create a catalog of shoppable products on the app and use special re-targeting capabilities in their ads. It continues to dramatically improve the advertising platform, which presently appears to be one of the best ad platforms for consumer discretionary brands looking for new ways to reach customers and stretch smaller ad budgets. However, Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. ![]() The increase was largely driven by ongoing investments in innovation, including mobile deep linking, entire page optimization, and improved measurement tools and stronger brand marketing campaign. While cost of sales and marketing surged 66% to $317.3 million, research and development expenses rose to $265.2 million from $240.8 million in the year-ago quarter. In fourth-quarter 2022, total costs and expenses increased 31% year over year $871.3 million. The restructuring plan is likely to offset higher operating expenses for expanding operations domestically and internationally, enhancing product offerings, broadening Pinner and advertiser base, expanding marketing channels and developing technology. The company anticipates incurring $100 million to $125 million charges related to the restructuring plan. Pinterest reportedly slashed its workforce by about 150 employees out of a total of 4,000 by the end of December 2022. The office space reduction is in concurrence with the contraction in the workforce that it had initiated last month. ![]() The company has decided not to renew the leases of certain office spaces and expects to significantly reduce its recurring costs by the end of 2023. The strategic move is part of a focused restructuring initiative to improve its margins for sustainable business practices in the wake of cut-throat competition from established players in the market. PINS recently disclosed definite plans to reduce operating costs as it aims to mitigate risks amid a challenging macroeconomic environment. "Outsourced monetization coupled with early signs of progress on improved engagement and ad load should drive a materially stronger revenue and margin outlook for the company."īrian Sozzi is Yahoo Finance's Executive Editor. "This should allow Pinterest to focus its resources on growing engagement and improving overall user experience," he concluded. ![]() "This includes an announced partnership with Amazon, now expected to be live in time for the 2023 holiday season, and future expected partnerships with other scaled retail media networks." "We believe Pinterest is making the optimal strategic move to outsource monetization to third-parties to overcome its attribution and scale challenges," Wells Fargo's Gawrelski said. Pinterest's stock is up about 15% year to date. ![]()
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