Pinterest price target lowered to $39 from $45 at BofA

BofA lowered the firm’s price target on Pinterest (PINS) to $39 from $45 and keeps a Buy rating on the shares. Q3 revenue was in line with expectations, with users and margin growth the “bright spots” in the quarter, the analyst tells investors. Following the results and “soft” Q4 guidance, the firm is lowering its FY25 revenue view by 2% and EBITDA forecast by 1%, but adds it is expecting “more steady progress in 2025.”