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PINS

Pinterest

$26.01

-2.66 (-9.28%)

05:25
05/17/19
05/17
05:25
05/17/19
05:25

Pinterest earnings selloff an attractive buying opportunity, says Baird

Baird analyst Colin Sebastian views today's post-earnings selloff in shares of Pinterest as an attractive buying opportunity. The stock in premarket trading is down 15%, or $4.64, to $26.22 following last night's Q1 results. Pinterest reported results confirming the company's preliminary Q1 numbers, with a modest uptick in full-year guidance, Sebastian tells investors in a research note. While some media headlines suggest a revenue and/or earnings miss, this is largely "noise" as a few high-end estimates skewed the consensus, says the analyst. He believes Pinterest's "ongoing strength" in U.S. advertising growth and early signs of traction from its international growth efforts are more important. As such, Sebastian believes the company's fundamentals are intact and he keeps an Outperform rating on the name with a $36 price target.

PINS Pinterest
$26.01

-2.66 (-9.28%)

05/13/19
DBAB
05/13/19
INITIATION
Target $25
DBAB
Hold
Pinterest initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley started Pinterest with a Hold rating and $25 price target. The analyst is bullish on the company's long-term prospects but views the current risk/reward as balanced. The shares are trading at a full multiple with limited near term valuation support on profit metrics, Walmsley tells investors in a research note titled "Upside to Shares is Blurry Through Our Lens."
05/13/19
RBCM
05/13/19
INITIATION
Target $28
RBCM
Sector Perform
Pinterest initiated with a Sector Perform at RBC Capital
RBC Capital analyst Mark Mahaney initiated Pinterest with a Sector Perform rating and a price target of $28. The analyst is positive on the company's "very large market opportunity" in advertising and believes that it is benefiting from "powerful" secular tailwinds, boasting a monthly active user, or MAU, count above that of Twitter (TWTR) and growing the MAUs faster than Snap (SNAP). Despite his belief than Pinterest can sustain a double-digit growth rate in MAUs and Average Revenue Per User until 2021, Mahaney sees its stock as "reasonably valued" after a 50% run-up from its IPO price.
05/13/19
BARD
05/13/19
INITIATION
Target $36
BARD
Outperform
Pinterest initiated with an Outperform at Baird
Baird analyst Colin Sebastian initiated Pinterest with an Outperform rating and $36 price target, stating that he expects the company to top $1B in revenue this year given its engaged and fast-growing audience and developing ad business. He sees Pinterest having significant runway for growth from international monetization and contributions from shopping/ecommerce as well as operating leverage, Sebastian tells investors.
05/13/19
05/13/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pinterest (PINS) initiated with an Outperform at Baird, a Buy at Citi, a Sector Perform at RBC Capital, a Hold at Deutsche Bank, a Neutral at Credit Suisse, UBS, BofA/Merrill, Goldman Sachs, and JPMorgan, and an Equal Weight at Barclays. 2. Zoom Video (ZM) initiated with an Overweight at JPMorgan and Piper Jaffray, a Buy at BofA/Merrill, a Market Perform at Wells Fargo and JMP Securities, a Sector Perform at RBC Capital, a Sector Weight at KeyBanc, an Equal Weight at Morgan Stanley, a Hold at Stifel, and a Neutral at Credit Suisse and Goldman Sachs. 3. Turning Point Therapeutics (TPTX) initiated with an Outperform at Wells Fargo and a Buy at Canaccord and Goldman Sachs. 4. Brigham Minerals (MNRL) initiated with an Overweight at Piper Jaffray and Barclays, an Outperform at Wells Fargo, RBC Capital, and Credit Suisse, and a Buy at Goldman Sachs and UBS. 5. Brainsway (BWAY) initiated with an Outperform at Raymond James and Oppenheimer, a Buy at Ladenburg, and Overweight at Cantor Fitzgerald. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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