Pinterest price target raised to $37 from $31 at Roth MKM

Roth MKM raised the firm’s price target on Pinterest to $37 from $31 but keeps a Neutral rating on the shares. The company is one of the highest quality SMID-cap Internet stocks with identifiable catalysts and the firm remains constructive on Pinterest over the longer term, but in the near-term, the rising expectations for Q1 and 2024 are fairly captured at current valuation levels, the analyst tells investors in a research note.