Roth Capital analyst Rohit Kulkarni raised the firm’s price target on Pinterest (PINS) to $40 from $29 and keeps a Neutral rating on the shares. Roth sees upside to Q2 revenue as the ad ecosystem stabilized in May and June, the analyst tells investors in a research note. The firm has a growing positive bias medium-term as Pinterest launches additional lower funnel ad tools and increases Performance+ adoption, but remains slightly cautious as Q3 buy-side expectations seem elevated and Q2 user seasonality could put downward pressure on sentiment.
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