BofA Securities Downgrades Pinterest Inc (PINS) to Neutral as 'Recovery Trade' Continues

March 22, 2021 6:09 AM EDT
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Price: $76.22 -9.72%

Rating Summary:
    23 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - March 22, 2021 7:14 AM EDT)

BofA Securities analyst Justin Post downgraded Pinterest Inc (NYSE: PINS) from Buy to Neutral with a $78 price target, to reflect what they think will be another 2-3 quarter "recovery" trade.

"We continue to see Snap and Pinterest as strong secular growers, expect strong 1Q channel checks to aid stocks ahead of 1Q results, and anticipate acceleration in growth in 2Q, but we think investors may becoming increasingly
concerned on tougher 2H comps, especially in context of a broader economy that should be accelerating," the analyst commented.

For an analyst ratings summary and ratings history on Pinterest Inc click here. For more ratings news on Pinterest Inc click here.

Shares of Pinterest Inc closed at $73.01 yesterday.

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