Pinterest, Inc. (NYSE:PINS) shares closed more than 13% higher on Friday following the company’s reported Q1 results, with revenue of $575 million coming in better than the Street estimate of $572.94 million. Global Monthly Active Users (MAUs) decreased 9% year-over-year to 433 million.

Analysts at RBC Capital said they remain intrigued at the company's investments to re-think its content strategy to drive a return to positive net new MAU but net/net, they came away from the quarterly results incrementally skeptical of its insulation from the persistence of Google algo changes which will likely long-term overhang.

The analysts said they need more confidence in content to compel new users which can overcome these headwinds over time. They lowered the price target on the company’s shares to $26 from $33, while reiterating their sector perform rating.