Pinterest Reports Healthy Q3, Q4 Guidance Disappoints: 6 Analysts Cut Forecasts — Will AI Tools ‘Start To Help’ In 2025?
Shares of Pinterest Inc (NYSE:PINS) tumbled in early trading on Friday, after the company reported downbeat third-quarter earnings.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Piper Sandler analyst Thomas Champion maintained an Overweight rating and reduced the price target from $45 to $41.
- JPMorgan analyst Doug Anmuth reiterated a Neutral rating and cut the price target from $38 to $35.
- BofA Securities analyst Justin Post reaffirmed a Buy rating and slashed the price target from $45 to $39.
- Wedbush analyst Scott Devitt maintained a Neutral rating, but lifted the price target from $37 to $38.
- Roth Capital Partners analyst Rohit Kulkarni reiterated a Neutral rating and trimmed the price target from $39 to $33.
- Raymond James analyst Josh Beck reaffirmed an Outperform rating and cut the price target from $40 to $34.
- Oppenheimer analyst Jason Helfstein maintained an Outperform rating and revised the price from $45 to $40.
- Benchmark analyst Mark Zgutowicz reiterated a Hold rating on the stock.
Check out other analyst stock ratings.
Piper Sandler: Pinterest reported third-quarter revenues of $898 million, up 18% year-on-year and around 1% higher than Street expectations, Champion said in a note. He added, however, that the fourth-quarter guidance of 15%-17% represents another deceleration.
While EBITDA of $242 million was above estimates, the company’s year-on-year margin expansion is slowing, the analyst stated. “Users improved across all geographies, with y/y growth decelerating slightly on a 1% tougher comp,” he further wrote.
JPMorgan: Pinterest’s stock declined in the after-hours trading session as the company’s revenue growth guidance “fell shy of investor expectations,” Anmuth said. Although Pinterest indicated that macro trends “are mostly stable,” but persistent Food & Beverage pressure could weigh on revenue growth into the holiday season, he added.
Pinterest launched its Performance+ AI suite, “which provides …
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