Pinterest’s Google Partnership ‘A Positive Surprise’: 7 Analysts Provide Q4 Takeaways

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Shares of Pinterest Inc (NYSE: PINS) tanked in premarket trading on Friday, despite the company reporting upbeat earnings for its fourth quarter.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Roth Capital Partners analyst Rohit Kulkarni maintained a Neutral rating, while lifting the price target to $38.
Wedbush analyst Scott Devitt reiterated a Neutral rating, while raising the price target from $35 to $38.
Piper Sandler analyst Thomas Champion reaffirmed an Overweight rating, while raising the price target from $44 to $48.
JPMogan analyst Doug Anmuth maintained a Neutral rating, while lifting the price target from $34 to $38.
Stifel analyst Mark Kelley reiterated a Buy rating and price target of $42.
Baird analyst Colin Sebastian reaffirmed an Outperform rating and price target of $42.
Goldman Sachs analyst Eric Sheridan maintained a Buy rating and price target of $41.

Check out other analyst stock ratings.

Roth Capital Partners: Pinterest’s stock came under pressure in after-hours trading on Thursday, after the company reported a revenue miss for the fourth quarter and announced its first-quarter revenue guidance “below high-end buyside expectations,” Kulkarni said in a note. He added, “1Q EBITDA & front-end loaded 2024 margin commentary likely spooked high-end expectations.”

The two positive surprises from Pinterest were its getting Google (NASDAQ: GOOGL)(NASDAQ: GOOG) on board as an advertising partner overseas and monthly active users (MAUs) coming in above expectations, …

Full story available on Benzinga.com


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