Pinterest price target raised to $39 from $32 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Pinterest (PINS) to $39 from $32 and keeps a Neutral rating on the shares. The company reported a surprising “beat and raise” earnings report with Q4 results and Q1 guidance as revenue and EBITDA came in above expectations, the analyst tells investors in a research note. Pinterest added 2M users in North America – a rate not seen in several years, while the managment’s tone was upbeat regarding bottom-of-funnel ad revenue growth, AI-driven content recommendation, and Performance+ potential in 2025, Roth added.