Pinterest price target raised to $41 from $36 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on Pinterest (PINS) to $41 from $36 and keeps a Neutral rating on the shares. The firm notes shares were up after market following Q1 guidance of +13%-15% year-over-year, which was better than feared and above bogeys of about 10% growth. Piper was impressed by the guide and Pinterest’s ability to face the difficult year-over-year compare. But expectations now move higher and the firm prefers Reddit (RDDT) in the space.