Piper Sandler Reiterates Overweight Rating on Pinterest Inc (PINS)

Piper Sandler analyst Thomas Champion reiterated an Overweight rating and $45.00 price target on Pinterest Inc (NYSE: PINS).

The analyst commented ,"Pricing trends have remained consistent and engagement (i.e., click-through rates) did improve in August. That said, we will begin facing Direct Links compares in September after our ad unit transition in September '23 (which drove outbound CTR's up ~3x from the old format). Internationally, we estimate users in ~64 countries are now able to see ads from just ~34 countries in April, driven by 3P (Google). We also think PINS is seeing strong engagement in Russia, which is positive for EU MAUs but likely does not flow to revenue. We continue to view lower pricing favorably as PINS ramps new products."

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 $29.31 yesterday.

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