Pinterest (PINS, Buy, $47 target) PINS #1 Question: F&B headwinds – could TTD be part of the answer?
The top question about PINS from investors recently has been about continued weakness in the Food & Beverage (F&B) category, including the % of revenue F&B represents, and the prospects for recovery this year. F&B weakness first began in December 2023, and became a larger headwind in 3Q24, with 4Q24 revenue guidance embedding a similar impact. Comps should begin to ease in 2H25 if there is no incremental weakness.
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