UPDATE: Piper Sandler Starts Pinterest Inc (PINS) at Neutral

Piper Sandler analyst Thomas Champion initiates coverage on Pinterest Inc (NYSE: PINS) with a Neutral rating and a price target of $70.00.

The analyst comments "Pinterest appears to be an effective marketing surface for advertisers to engage with high-intent users, and lies at the intersection of social, search and E-commerce. PINS has been innovating rapidly and could facilitate transactions directly through merchant stores down the line. New products including Visual Search and a Shopify Partnership are attractive. That said, international has yet to be proven and the stock also concluded 2020 with an extraordinary run, up 250%. We will be following this company opportunistically, but for now we are not convinced that results can meaningfully outperform current expectations."

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 $71.01 yesterday.

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