Pinterest Soars 17% as Strong Earnings Showcase Ad Rebound and Gen Z Growth
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Pinterest shares surged 17% after strong quarterly results, indicating a rebound in the ad market and growth among Gen Z users.
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Monthly active users hit a record high of 482 million, driven largely by younger Gen Z engagement.
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Wall Street analysts lauded the results, boosting median price target to $35. Pinterest added nearly $3 billion in market value.
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Pinterest noted strength in retail advertising, with over half of users viewing it as a platform for shopping. Focus is on making it more "shoppable".
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If Pinterest converts user intent to revenues, could see further growth beyond base case and close gap with more shopping-focused peers.