RBC Capital analyst Brad Erickson lowered the firm’s price target on Pinterest (PINS) to $38 from $45 and keeps an Outperform rating on the shares. The company had a disappointing Q3 print as Tariff-related weakness showed up for the first time in the firm’s digital ads universe reinforcing the lack of customer diversity and higher macro sensitivity for Pinterest bears, the analyst tells investors in a research note. Pullbacks from some large advertisers owed to home furnishing-related tariffs drove the Q4 guide-down, the firm added.
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Read More on PINS:
- Pinterest price target lowered to $33 from $35 at Piper Sandler
- Pinterest price target lowered to $40 from $50 at Evercore ISI
- Pinterest price target lowered to $42 from $46 at Seaport Research
- Monness Crespi downgrades Pinterest on worries about ad environment, competition
- Pinterest price target lowered to $34 from $39 at Roth Capital