BUZZ-Pinterest surges after strong revenue forecast

Reuters
09 May
BUZZ-Pinterest surges after strong revenue forecast

** Shares of image-sharing platform Pinterest PINS.N rise 13.6% to $31.64 premarket

** Reports upbeat Q1 revenue and forecasts Q2 sales above estimates on Thurs

** Barclays, which cuts PT to $38 from $42, says PINS is holding up really well given the retail exposure, but warns the dependence may develop into a bigger slowdown later this year

** RBC Capital Markets says tariffs are of course a risk, but PINS is "running its own race and is underappreciated"

** At least three brokerages raise PTs, while two cut

** Susquehanna cuts PT to $40 from $50; J.P.Morgan raises PT to $35 from $30

** CEO Bill Ready said 85% of PINS users come to its mobile app directly, they are all signed-in users

** Avg. rating of 41 brokerages covering PINS is "buy" - LSEG compiled data

** As of last close, stock down ~4% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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