PINS - Snap gains as Piper Sandler calls it a Buy among Internet ad names

January, 20 2021 04:38 PM Pinterest Inc. Class A

Snap (SNAP) - slightly lower immediately after the close - is now up 1.2% in postmarket trading after an initiation at Overweight by Piper Sandler in a new look at Internet stocks. It's also starting Alphabet ([[GOOG]], [[GOOGL]]) at Overweight, while initiating Facebook (FB), Pinterest (PINS) and Twitter (TWTR) at Neutral. It's dividing its digital advertising names into two groups: "supertankers" (network mega-caps) and "speedboats" (fast-growing names innovating on the edges). The global ad market is $588B, it says, down 4% from 2019 driven by off-line ad declines offsetting digital growth in the high single digits. That ad market will climb to $815B by 2025, and Piper believes digital is now 54% of spend (a current $315B) - which could grow to $560B by 2025. Saying "demographics is destiny," its teen survey found Instagram (FB) and Snapchat (SNAP) were the most-used social apps, at 84% and 80% respectively, followed by

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Snap gains as Piper Sandler calls it a Buy among Internet ad names

Company Name:	Pinterest Inc. Class A
Stock Symbol:	PINS
Market:	NYSE
Website:	pinterest.com