From Financial Modeling Prep: 2025-05-15 20:31:00

Wolfe Research upgraded Pinterest (NYSE:PINS) from Peer Perform to Outperform with a new price target of $40, citing improving fundamentals, product innovation, and attractive valuation compared to peers. The firm highlighted drivers like Performance+ ad product growth and third-party monetization potential.

Pinterest’s ad performance cycle is boosting advertiser engagement, helping it gain market share. Trading at 13.5x projected 2026 EBITDA, Pinterest is at a discount to peers like Snap and The Trade Desk, despite similar growth. Year-to-date, Pinterest has outperformed Snap and The Trade Desk, in line with Meta.

The upgrade reflects confidence in Pinterest’s ability to sustain above-market growth and benefit from favorable positioning in the digital advertising landscape.



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