- Analysts mainly slashed their price targets on Pinterest Inc (NYSE:PINS) post Q4 results.
- BofA analyst Justin Post lowered the price target on Pinterest to $46 from $57 (87.7% upside) and kept a Neutral rating on the shares.
- While the company reported better than expected revenue and adjusted EBITDA, users are "still under pressure," said Post, who called Q4 "a mixed quarter."
- For 2023, which he calls "key for valuation," he is lowering revenue by 9% and adjusted EBITDA by 17%, noting that his estimate cuts primarily reflect lower user growth and higher expected operating expenses.
- Piper Sandler lowered the Pinterest price target to $46 from $53.
- Baird cut Pinterest's price target to $45 from $53 (83.6% upside).
- UBS analyst Lloyd Walmsley raised the Pinterest price target to $35 from $32 (42.9% upside) and maintained a Neutral.
- Credit Suisse analyst Stephen Ju maintained Pinterest with a Neutral and lowered the price target from $45 to $39 (59% upside).
- Rosenblatt analyst Mark Zgutowicz maintained Pinterest with a Neutral and reduced the price target from $55 to $35 (43% upside).
- Price Action: PINS shares traded higher by 5.26% at $25.80 in the premarket session on the last check Friday.
