Pivotal Research Starts Pinterest Inc (PINS) at Hold

Pivotal Research analyst Michael Levine initiates coverage on Pinterest Inc (NYSE: PINS) with a Hold rating and a price target of $29.00.

The analyst comments "We think they have executed nicely and have potential optionality with international and self-serve into 2020. At this multiple, the company still needs to demonstrate that they are more than a niche. We do not have meaningful upside to revenues until 2021 and beyond, and while valuation is rarely a hold up for us, the premium to the rest of online media is so substantial that we believe it is reflected in the stock price."

For an analyst ratings summary and ratings history on Pinterest Inc click here. For more ratings news on Pinterest Inc click here.

Shares of Pinterest Inc closed at $25.80 yesterday.

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