Bernstein raised the firm’s price target on Pinterest to $38 from $35 and keeps a Market Perform rating on the shares following quarterly results. The firm notes revenues were comfortably above management’s own guidance at +23% year-over-year to $740M, with North America responsible for nearly all the beat. Revenue guidance of 18%-20% year-over-year points to a sequential decline, though isolating for FX and leap-day pull-forward, guidance appears stable quarter-over-quarter.
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