Pinterest cut to Hold at Argus amid growing costs and competition

Argus analyst John Staszak downgraded Pinterest (PINS) to Hold from Buy. The firm is citing the company facing obstacles to growth as retailers spend less on advertising due to tariffs while larger competitors like Alphabet (GOOGL) are able to spend more on AI tools, the analyst tells investors in a research note. Argus further notes that growing operating expenses have hurt Pinterest profitability and suggest that margins have little room to expand.