HSBC lowered the firm’s price target on Pinterest (PINS) to $32.70 from $46.30 and keeps a Buy rating on the shares. In light of current macro headwinds, the firm revisited social media and AdTech names under its coverage and lowered revenue growth forecasts by 300-500 basis points for FY25 and by 200-300 points for FY26 to better reflect the more-sluggish near-to-medium-term global ad demand outlook.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PINS:
- Pinterest price target lowered to $36 from $50 at Stifel
- TikTok’s US Future in Limbo amid Trump-China Tariff Negotiations
- Pinterest price target lowered to $28 from $42 at Morgan Stanley
- Pinterest weighed big ad sales acquisition, Information reports
- AI Daily: OpenAI said to be working on X-like social network