Pinterest Inc Class A

PINS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$46.00	Hnjrxdb	Ddvqlhbzw

Pinterest Earnings: Advertiser Adoption Should Drive Higher User Monetization and Margin Expansion

Ali Mogharabi

Aug 2, 2023

We are maintaining our $36 fair value estimate on narrow-moat Pinterest. The firm’s second-quarter results indicate that its network effect is strengthening as more advertisers adopt its ad performance measurement tools, which we think will increase ad prices and user monetization. At the same time, continuing user growth and improvements in engagement are providing more opportunities for advertisers to reach an audience.

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