Mizuho Starts Pinterest Inc (PINS) at Outperform

Mizuho analyst Lloyd Walmsley initiates coverage on Pinterest Inc (NYSE: PINS) with a Outperform rating and a price target of $50.00.

The analyst comments "We initiate coverage of Pinterest shares with Outperform and $50 Price Target (+49%) with a bull case upside to $62 (+94%) versus 26% bear case downside to $25. Pinterest is well-positioned across our several sector bull theses, including (1) AI/ML improving ad tech, onboarding and campaign management expanding the TAM and better serving SMBs, (2) AI/ML product improvements increasing time spent, and (3) faster total ad spend driven by AI-native company ad spend. PINS should continue benefiting from enabling (and better measuring) users' on-platform commercial activity, ramping monetization partnerships, an improving 1P go-to-market, and closing the international monetization gap. We see PINS as an upward estimate revision and multiple expansion story."

For an analyst ratings summary and ratings history on Pinterest Inc click here. For more ratings news on Pinterest Inc click here.

Shares of Pinterest Inc closed at $33.60 yesterday.

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