Pinterest removed from ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI analyst Mark Mahaney closed the firm’s "Tactical Underperform" call on Pinterest and maintains an In Line rating with an unchanged $33 price target in the wake of what the firm calls "an In-Lineish & Lower quarter." The firm’s tactical call was largely based on a belief that Street Q1 revenue estimates were "overly aggressive" given that they implied year-over-year growth acceleration and Evercore doesn’t see Pinterest "escaping the Ad Winter pressure that practically every other Internet Ad company is going through" in the near-term.