Sebastian rates the shares at outperform with a $30 price target.īarclays analyst Ross Sandler agreed that Pinterest’s forecast was “one of the better trajectories we’ve seen” which, “given the heavy exposure to problematic retailers, suggests that PINS is a bit stickier for marketers than what we are seeing elsewhere.” “Pinterest’s Q2 results and Q3 guidance support the idea that Pinterest occupies a unique position between Search and Social, facing revenue headwinds not quite as severe as META/SNAP/TWTR, but perhaps not quite as resilient as Google Search,” he wrote. Read: Why Snap’s pain may not be over yet Some analysts think Snap and Twitter could post negative revenue growth in the current quarter. “While we believe some investors remain skeptical of PINS’ Idea Pins content strategy, we see an emerging content consumption/creation flywheel and think PINS is making the right moves to drive engagement while continuing to refine relevance and shopping tools,” Fitzgerald wrote, referring to the company’s offering that lets users post multi-page videos.įitzgerald has an overweight rating on Pinterest’s stock, though he lowered his target price to $34 from $37.īaird analyst Colin Sebastian wrote that Pinterest’s third-quarter revenue outlook, which called for a mid-single-digit year-over-year growth rate, suggests the company might be in a different spot than pure social-media companies like Snap Inc. Wells Fargo’s Brian Fitzgerald saw various bullish signals surrounding Pinterest’s second-quarter report, including Elliott Management’s activist support of the company, predictions for a more moderate pace of investments next year, and the expectation that global monthly active users could get back to more traditional seasonal growth patterns in the second half of the year.
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