Pinterest Inc (PINS) PT Raised to $41 at Piper Sandler as 'Better Than Feared Print Sends Shares Higher'

Piper Sandler analyst Thomas Champion raised the price target on Pinterest Inc (NYSE: PINS) to $41.00 (from $36.00) while maintaining a Neutral rating.

The analyst commented: "Better Than Feared Print Sends Shares Higher; Shares were up ~18%+ after market following 1Q25 guidance of +13-15% y/y, which was better than feared and above bogeys of ~10% growth. We were impressed by the guide & PINS' ability to face the difficult y/y compare. But, expectations now move higher and we prefer RDDT in the space. Reiterate Neutral.

Following results we raise ’25 revenues & EBITDA & acknowledge a better 1Q25 outcome than we previewed in our downgrade (LINK). That said, we continue to see a competitive SMID advertising environment & guidance is still below expectations set at Analyst Day. PINS is ramping hiring with headcount growing mid-teens y/y. Our DCF-based PT moves to $41 from $36 prior on higher estimates. Reiterate Neutral."

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