Pinterest (PINS) stock falls after missing sales estimates in its fourth-quarter earnings. The social media platform saw monthly active users swing higher this past quarter. Morningstar Senior Equity Analyst Ali Mogharabi looks to the company's user growth and consistent digital advertising transactions as good news as his firm boosts its price target on Pinterest to $43 per share.
"The final thing was that margin expansion," Mogharabi states. "I think it was pretty impressive which shows what we've been saying all along, that these guys, along with Meta, they have a network effect. There is that flywheel, and it's starting to turn for Pinterest."
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