Pinterest downgraded to Neutral from Outperform at Wedbush (earlier)

Wedbush earlier today downgraded Pinterest (PINS) to Neutral from Outperform with a price target of $30, down from $34. The company reported “mixed” Q3 results and its outlook assumes a “less constructive range of outcomes” for the platform given macro uncertainty and tariff implications, the analyst tells investors in a research note. The firm thinks investors are also increasingly contemplating risks from rising consumer adoption of competing agentic commerce. It believes Pinterest in track to hit the lower end of its intermediate-term target and that the stock’s valuation is more balanced at current levels. Wedbush sees limited visibility into catalysts that could meaningfully reaccelerate Pinterest’s growth.