Seaport Research raised the firm’s price target on Pinterest (PINS) to $47 from $34 and keeps a Buy rating on the shares after the company reported “solid though in line” revenue growth for Q4 and also reported in line guidance for Q1. Pinterest also announced the addition of Google (GOOGL) as a third-party ad partner for some of its international markets, notes the analyst, who remains positive on Pinterest shares given it has a unique platform with high intent users, the firm expects continued strong engagement trends and the company remains early in monetization, particularly internationally.
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