Pinterest price target lowered to $33 from $39 at Roth MKM

Roth MKM lowered the firm’s price target on Pinterest (PINS) to $33 from $39 and keeps a Neutral rating on the shares. Shares were down 12% as the company reported small beat on Q3 revenue but missed on EBITDA expectations, and Q4 guidance came in below optimistic investor expectations, the analyst tells investors in a research note. Pinterest management also seemed upbeat about growing bottom-of-funnel ad revenue, AI-driven content recommendation, and Performance+ adoption, Roth MKM added.