Pinterest positioned for 'slightly better' Q1 revenue growth - Credit Suisse
30/03/2023 11:03
** Credit Suisse says social media firm Pinterest Inc
PINS.N is positioned for largely in-line to slightly better
1Q23 revenue growth trends; raises PT to $29 from $26
** Raised PT implies an upside of ~9% to last close; median
PT is $29
** "Overall advertiser feedback remained particularly strong
for those verticals where Pinterest has historically maintained
a good presence – namely home decor and apparel" - Brokerage
** Shares of PINS up 0.3% in low volume premarket
** Earlier in February, PINS reported lower-than-expected
quarterly revenue and said it expects Q1 revenue to grow in
low-single-digits
** Avg rating of 35 analysts is "hold" - Refinitiv data
** As of last close, stock gained ~9% this year
(Reporting by Tiyashi Datta in Bengaluru)
((tiyashi.datta@thomsonreuters.com))