Evercore ISI Reiterates Outperform Rating on Pinterest Inc (PINS)

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $50.00 price target on Pinterest Inc (NYSE: PINS)

The analyst comments "Reiterate Outperform: PINS shares traded off 11%, but we view that as an Expectations Correction rather than a Fundamentals Correction and would note the recent rally in the shares leading into the print. At a high level, we see in PINS a company with an impressively compounding product cycle for marketers – MDL, DL, 3P & PP – with very solid MAU and engagement growth, and with consistent cost discipline that has translated into rising EBITDA Margins. With the stock trading at approximately 14X EV/EBITDA, we see a highly attractive valuation setup given the combination of mid-to-high-teens Revenue growth and a ~30% EBITDA Margin – i.e. a solid “Rule of 40” company."

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 $39.17 yesterday.

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