Pinterest price target raised to $32 from $30 at Wedbush

Wedbush raised the firm’s price target on Pinterest to $32 from $30 and keeps a Neutral rating on the shares. The firm notes Pinterest reported strong Q3 results with growth and margin exceeding expectations. Pinterest has reported accelerating revenue growth for three consecutive quarters and management guided Q4 growth to 11%-13%, implying a modest acceleration at the midpoint of the range.