May. 24 at 1:17 PM
Am I the only psychopath browsing CFRA reports on a holiday weekend?
$PINS Bull Case (CFRA, Buy,
$28PT)
- 10th consecutive quarter of double-digit user growth — MAUs hit 631M (+11% YoY)
- Q1 revenue of
$1.008B (+18% YoY), beat consensus of
$968M
- International monetization is the primary growth catalyst — Rest of World revenue +59%, Europe +27% in Q1
- AI recommendation engine improved search fulfillment by 180 basis points in Q1
- Performance+ campaigns = 30% of lower-funnel revenue; adopters growing spend at 2x the rate of non-adopters
-
$1.95B share repurchase in Q1, reducing shares outstanding by 16% — new
$3.5B authorization approved
- 2026 EPS raised to
$1.87, 2027 EPS raised to
$2.09 (12% 3-year projected EPS CAGR)
- Stock trading at less than 10x 2027 EPS
- Strong balance sheet, no long-term debt
CFRA 12-month price target:
$28