HAPPY SUNDAY TO THE STREET.
Meta’s latest launch is serving track star meets tech bro. The company just unveiled its new $399 Oakley smart glasses. It’s designed for athletes, but let’s be honest, they’ll probably end up on a bunch of weekend joggers and guys ordering smoothies. The specs come loaded with Meta AI, a better camera, and water resistance for all your sweaty ambitions. And yes, there’s a gold-lens version too… because nothing says peak performance like limited-edition bling for your face.
— Brooks & Cas
PINTERESTED-ED
Piquing Investor Interest
Pinterest $PINS ( ▼ 0.64% ) has given itself a facelift recently, and Barron's thinks that's a good thing. In a recent article, it argues the social media company is underpriced and that its ability to engage users could underpin future growth.
The Gen Z favorite platform's AI investments are paying off. CEO Bill Reddy told a recent earnings call that its advanced technology helps to drive more relevant and personalized user searches. Those, in turn, mean increased click-throughs and, ultimately, more purchases.
Reddy said that Pinterest has become a "shopping destination." He said the company's ability to identify and recommend relevant content translates to an expanding user base, particularly as it reaches international markets.
Stick a Pin In It
In its most recent earnings report, Pinterest beat expectations on revenue and users, but slipped slightly on earnings per share. Even so, with 570 million monthly users—a 10% year-on-year increase—and increased sales guidance, investors are starting to take notice.
In May, Citigroup $C ( ▲ 1.16% ) reiterated its Buy rating on the company and increased its price target from $38 to $41, almost 20% up on Friday's close. Analyst Ronald Josey highlighted the company's success in attracting always-on advertising from various sectors.
And Wedbush, which surveyed hundreds of advertisers, says three-quarters of them plan to up their ad spend with the platform by at least 10%. Taking even a slightly bigger chunk out of the $500 billion total annual U.S. advertising spend could seriously boost Pinterest's bottom line.
Keep Your Pin Up
Analyst consensus is increasingly positive. Per MarketBeat, 24 have it at a Buy and 6 have it at a Hold. That's a shift from this time last year, when just 19 rated the stock a Buy.
One of the biggest risks for Pinterest is that it gets squeezed by giants like TikTok and Meta. Global economic uncertainty will intensify competition for advertising, and the platform will need to hold its own.
Pinterest has a lot going for it, but social media can be a fickle beast. Don't pin your hopes on dramatic results, but this one's worth keeping on the board.
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IPO-WER UP
Listing and Lifting Off
The IPO market soared in 2021 when near-zero rates and pent-up demand spurred record volumes and levels of raised capital. But since then, activity has been more listless than listing.
Until now. A handful of hugely successful IPOs in the last few months have raised hopes on Wall Street.
According to Bloomberg, prices of newly-listed companies are surging faster than they have in over three years. It points to Airo Group Holdings $AIRO ( ▲ 20.95% ), the drone company which soared 140% on its first day and Circle Internet Group $CRCL ( ▲ 9.64% ). The stablecoin-focused crypto company gained almost 170% following its IPO.
It's a far cry from a few months ago when tariff fears knocked market confidence so much that some companies delayed their IPOs.
Pressure in the IPO Pipeline
CNBC says those high-profile launches may spur momentum in the second half of the year. That's important because there's a backlog of companies choosing to stay private.
Peter Boockvar, chief investment officer at Bleakley Financial Group, says this clogs up the whole financial network because those companies are still on the balance sheets of private equity firms and venture capitalists.
The recent IPO successes could be a step in the right direction. Schwab says there's strong IPO potential from AI and crypto companies, though it remains to be seen whether other sectors are ready to go public.
Who’s Next to Launch?
If you're making an IPO watchlist, here are some companies to keep on your radar.
Stripe: An IPO from the well-known payment company has been long-anticipated, but it hasn't yet made any announcements.
Klarna: The buy-now-pay-later firm put its IPO on hold earlier this year. There's now hope it might IPO now-ish, not later.
Gemini: The popular crypto exchange has submitted its initial IPO paperwork with the SEC.
Investing in IPOs can be risky, and the first few days are likely to be particularly volatile. Speculation is rife, particularly as it can be hard to value newer companies. IPOs may be lifting off again, but investors need to be braced for what could be a bumpy ride.
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Swipe Right on These Fintechs
JPMorgan’s Top Picks
JPMorgan $JPM ( ▲ 1.19% ) is eyeing opportunities in digital banking—and it has three clear favorites. Analyst Ella Smith flagged Q2 Holdings $QTWO ( ▲ 4.84% ), Alkami Technology $ALKT ( ▲ 3.97% ), and nCino $NCNO ( ▲ 0.3% ) as standouts in the space. “We find the digital banking space an attractive investment arena,” she wrote in a recent note to clients.
Smith sees particular upside in Q2 Holdings and Alkami, both of which help regional banks and credit unions modernize their digital platforms. She assigned Overweight ratings to each, noting their long-term contracts and high customer retention rates as key strengths.
Her price targets suggest room to run: $115 for Q2 Holdings, implying an almost 30% upside from current levels, and $40 for Alkami Technology, a potential gain of about 43%. Both stocks have taken a hit this year, but Smith points to their sticky monetization models as a source of resilience.
A Wait-and-See Approach on nCino
Neutral, citing a “transition year” that brings added uncertainty. She does, however, see some positives—including strong technology, a solid client base, and cross-sell opportunities.
Smith set a $30 price target for nCino, implying a more modest 13% upside from current price levels. The stock is down more than 20% in 2025 and is on track for its fourth losing year in the last five.
Despite the recent slump, Smith isn’t ready to count nCino out. But until the company shows more progress on its strategic shift, she’s staying on the sidelines.
Digital Banking, Long-Term Bet
Even with varied ratings, Smith’s broader message was clear: digital banking remains a strong long-term theme. Q2 Holdings and Alkami, in particular, stand out for their revenue visibility and recurring models tied to account volume and product usage.
Smith sees their business models as defensible in a volatile environment, with reliable income streams backed by multi-year customer contracts. That kind of stability is rare—and could be increasingly valuable if market conditions stay rocky.
And while nCino’s outlook is murkier, its fundamentals still hint at potential. For now, JPMorgan’s focus is on the players with stronger momentum—but all three names reflect the ongoing digital transformation of banking.
LAST WEEK’S POLL RESULTS
Are you bullish or bearish on Arista Networks $ANET ( ▲ 6.61% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “It's been oversold and is poised for a run.”
🐂 Bullish — “I've owned ANET for many years, it always comes back.”
Which stock do you think will outperform over the next 12 months?
▇▇▇▇▇▇ Market Group
▇▇▇▇▇▇ Fairfax Financial
▇▇▇▇▇▇ Loews
Which stock do you think will outperform over the next 12 months?
▇▇▇▇▇▇ Dollar General
▇▇▇▇▇▇ Dollar Tree
And, in response, you said:
Dollar General — “Pretty much a tossup.”
Dollar Tree — “Definitely!!”
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