Pinterest price target lowered to $48 from $52 at RBC Capital

RBC Capital analyst Brad Erickson lowered the firm’s price target on Pinterest (PINS) to $48 from $52 and keeps an Outperform rating on the shares after its Q2 results. The quarter was “mixed”, though positively, the Amazon (AMZN) and Google (GOOGL) partnerships are ramping, its outsized impression growth continues, direct links value creation continues to grow, APAC concerns proved overdone, and the company’s expense discipline helps partially offset the revenue downside in the Street earnings estimates, the analyst tells investors in a research note.