Pinterest Inc (PINS) PT Raised to $46 at BMO Capital

BMO Capital analyst Brian J. Pitz raised the price target on Pinterest Inc (NYSE: PINS) to $46.00 (from $45.00) while maintaining a Outperform rating.

The analyst comments "We reiterate Outperform on PINS shares given: 1) impressive execution in the US with Amazon ads integration (US & Can revenue up 22% in 1Q24 vs. 8% in 4Q23), 2) international monetization improvement remains on the horizon with Google Ads Manager, 3) SMB adoption provides optionality with upcoming product launches including gen AI creatives and ROAS bidding, and 4) management is executing well against its goal to grow revenue in the mid-teens over the next 3-5 years, with EBITDA margin expansion in +2024E. Target price to $46 from $45."

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