Seaport Research raised the firm’s price target on Pinterest to $49 from $47 and keeps a Buy rating on the shares. The company reported strong Q1 results, with revenues accelerating above guidance and strength from lower funnel deep link ads, the analyst tells investors. The firm remains positive on the shares due to the uniqueness of the platform, expected continued strong engagement trends, being early in monetization, and expected mid-high teens long term revenue growth.
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