Pinterest Shares Up 13% Following Q1 Results
<p><a href='https://financialmodelingprep.com/financial-summary/PINS'>Pinterest, Inc. (NYSE:PINS)</a> shares closed more than 13% higher on Friday following the company’s reported Q1 results, with revenue of $575 million coming in better than the Street estimate of $572.94 million. Global Monthly Active Users (MAUs) decreased 9% year-over-year to 433 million. </p>
<p>Analysts at RBC Capital said they remain intrigued at the company's investments to re-think its content strategy to drive a return to positive net new MAU but net/net, they came away from the quarterly results incrementally skeptical of its insulation from the persistence of Google algo changes which will likely long-term overhang. </p>
<p>The analysts said they need more confidence in content to compel new users which can overcome these headwinds over time. They lowered the price target on the company’s shares to $26 from $33, while reiterating their sector perform rating.</p>

NYSE:PINS