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Pinterest's GPU Commentary Seen as 'Most Intriguing' Platform Upgrade Opportunity in Some Time, RBC Says

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Pinterest's (PINS) GPU investment and proprietary model improvement commentary is the "most intriguing" platform enhancement opportunity in some time for the stock as it could unlock engagement and targeting, RBC Capital Markets said in a Monday research report.

A "better-than-feared" Q1 print came amid diminishing headwinds from large clients due to conversion improvements, Performance Plus accounting for 30% of lower funnel revenue, and the potential easing of headwinds in H2 from infrastructure investments and acquisitions, analysts wrote.

The Q1 revenue beat was partly driven by surprising performance from the largest retail advertisers as AI-powered platform improvements started offsetting headwinds later in the quarter, the brokerage stated.

The company expects global growth in Q2 to be moderated by deliberate management and organizational changes to the international go-to-market structure, as well as high cross-border spend following US tariffs, according to the note.

The brokerage reiterated its sector perform rating on the stock and boosted its price target to $23 from $17.

Price: $23.26, Change: $+2.41, Percent Change: +11.56%

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