AMZN - Pinterest: Inspiration To Purchase

• Pinterest is one of the most unique social commerce platforms, designed to instill inspiration and, ultimately, action.
• Q1 results were a positive surprise as the company grew MAUs sequentially. However, MAU growth is maturing globally.
• Thus, the company needs to execute on monetizing users, particularly with additional shopping and checkout features.
• Pinterest has a strong brand, technology, and network effect moats that should protect it from competitive pressures.
• The company is trading at its cheapest valuation multiples as a public company, offering a large margin of safety and compelling value for investors.

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