Pinterest price target lowered to $40 from $46 at BMO Capital

BMO Capital analyst Brian Pitz lowered the firm’s price target on Pinterest (PINS) to $40 from $46 and keeps an Outperform rating on the shares after its inline Q3 results. User growth re-acceleration and growing engagement positions Pinterest for improved monetization potential across all regions, though the firm is also reducing its FY25 EBITDA view on tech talent investments and, to a lesser extent, continued sales and marketing costs, the analyst tells investors in a research note.