RBC Capital analyst Brad Erickson keeps a Sector Perform rating and $30 price target on Pinterest (PINS) after the company’s “better than feared” Analyst Day event. Pinterest pre-announced Q3 modestly ahead of estimates, its long-term targets appear achievable or beatable, and its early learnings on the Amazon.com (AMZN) partnership were theoretically positive, the analyst tells investors in a research note. The firm adds that Pinterest’s engagement and conversion KPI’s were “encouraging”.
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