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Pinterest Stock Gaps Lower as Analysts Turn Bearish
PINSPinterest(PINS) Schaeffers Investment Research·2025-01-13 15:23

Pinterest Inc (NYSE:PINS) stock is down 3.6% to trade at 29.55atlastcheck,afteradowngradefromJefferiesto"hold"from"buy,"aswellasaprice−targetcutto29.55 at last check, after a downgrade from Jefferies to "hold" from "buy," as well as a price-target cut to 32 from 40.Thefirmnotedthesocialmediaplatform′s newproductsareunlikelytodrivepreviouslyimpliedexpectedrevenuegrowth,andthatthepaceofmarginexpansionmayslowaftercostoptimizationefforts.WellsFargoalsolowereditspriceobjectiveto40. The firm noted the social media platform's new products are unlikely to drive previously implied expected revenue growth, and that the pace of margin expansion may slow after cost optimization efforts. Wells Fargo also lowered its price objective to 39 from $40.PINS is now on track for a fourth-straight loss and biggest single-d ...