Pinterest Inc (PINS) Slowdown is Primarily in Lower Margin Users - Piper Sandler

Piper Sandler analyst Thomas Champion reiterated a Neutral rating and $68.00 price target on Pinterest Inc (NYSE: PINS) after Ads Manager data implies MAU declines are driven by non-mobile app users, which contribute less to the bottom line.

The analyst stated "Ads Manager suggests a US user base ~60% iPhone, 82% mobile and 78% are mobile app. Of the ~135MM International users, 33% are iPhone and 80% mobile app. The difference between International MAUs (363MM) and Ads Manager target users (135MM) likely relates to the countries overseas not yet supporting Pinterest ads. Today, ads are only available in ~40% of the top 20 countries by app downloads, which suggests to us an incremental revenue opportunity going forward."

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 $54.02 yesterday.

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