DA Davidson analyst Tom Forte raised his price target on Pinterest to $23 after his recent discussions with its management, saying he is more confident in its ability to "monetize its international audience." The analyst notes that the company's international average revenue per user increased 60% in the most recent quarter - a "big jump" from 28.6% in the prior quarter - calling the rebound from the slowdown earlier in 2018 "encouraging". Forte is also positive on Pinterest's potential to generate more international ad revenue growth through entering new markets, rolling out new products, and increasing its ad load.

Meta Platforms (META), the parent company of Facebook, Instagram, WhatsApp, Oculus, Threads and other brands, is scheduled to report first quarter 2024 results after market close on Wednesday, April 24 with a conference call scheduled for 5 pm ET. Here's what to... To see the rest of the story go to thefly.com. See Story Here