Pinterest Inc. (PINS, Buy, $52 target) Reiterate Top SMID Pick as Top Line Accelerates
In this first take following tonight’s results, we touch on:1. 2Q guide in-line with NSR, nicely ahead of consensus; 2024 commentary as expected
2. More value capture coming from lower funnel, as CAPI adoption reaches 40% of revenue
3. Third-party revenue was “emerging contributor” in 1Q, expected to ramp through 2024
4. Seven quarters of accelerating MAU growth and +40% of MAUs are Gen Z
5. Dry powder building on balance sheet
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.