Pinterest (PINS, Buy, $49 target) US tariff impact clouds otherwise strong execution
What’s New: In this first take following tonight’s results, we focus on:1. Is Retail/Home Furnishing tariff headwind temporary or more structural?
2. Advertising growth solid as new ad products continue rolling out
3. Looking for more clarity on taking audience data off-platform
4. Global user growth remains strong, including North America
5. AI winner or loser? Investors are still not sure
6. Margin outlook remains strong and on track for long-term target
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
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We provide debt research on:
- Pan European Telecom Services and Cable
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