Pinterest price target raised to $40 from $36 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Pinterest (PINS) to $40 from $36 and keeps an Outperform rating on the shares as results/outlook were better than feared, given exposure to furniture, CPG and broader retail. While management is seeing some pullback in the U.S. from Asia-based sellers, those advertisers are leaning into spend in Europe/Rest of World and “trends remain healthy both in Q1 and the early signals on Q2.” Meanwhile, new ad products and AI continue driving better advertiser ROI, Oppenheimer adds.