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Pinterest price target lowered to $39 from $45 at KeyBanc
The Fly

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

KeyBanc analyst Justin Patterson lowered the firm’s price target on Pinterest (PINS) to $39 from $45 and keeps an Overweight rating on the shares following 3Q results. The firm notes Q4 revenue guidance came in below expectations, and says it believes that will exacerbate concerns over Pinterest’s Investor Day growth targets, particularly as growth decelerates in Q1 2025 as Pinterest laps Easter Shift and Leap Year benefits. From KeyBanc’s perspective, this is a timing issue. Engagement is still solid, partnerships and new products are ramping, and eventually monetization should follow, the firm adds.

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