Pinterest price target raised to $39 from $37 at Loop Capital

Loop Capital raised the firm’s price target on Pinterest to $39 from $37 and keeps a Buy rating on the shares. The company’s Q3 results and Q4 outlook were a strong step forward with revenue growth acceleration and strong momentum on profitability, the analyst tells investors in a research note. The company appears to be making good strides forward on longer-term priorities with a material revenue catalyst with Amazon and a positive event path with other partners expected, the firm added.