.September 19, 2024 03:22:00 AM

Pinterest (NYSE:PINS) saw a 2% increase in shares after positive comments from BofA, highlighting the success of Performance+ and 3P partnerships. Amazon ads on Pinterest have shown improved click-through rates and increased ad spend, indicating growing effectiveness. BofA noted the opportunity for significant revenue growth due to Pinterest’s low ad load compared to competitors, with third-party partnerships potentially boosting net revenue by 50% in the future. However, challenges such as softness in the CPG sector and rapid AI and machine learning innovation among larger competitors were also mentioned.