Pinterest Inc (PINS) PT Lowered to $34 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan lowered the price target on Pinterest Inc (NYSE: PINS) to $34.00 (from $40.00) while maintaining an Overweight rating.

The analyst commented, "PINS' 3Q results came with revenues in line with and EBITDA 3% above Street estimates. However, 4Q guide of 14-16% y/y revenue growth came below prior Street estimates / bull case expectations for potential revenue growth acceleration. On profitability, midpoint of 4Q EBITDA guide implies ~40bps y/y margin expansion (vs. 170bps in 3Q). On the call, PINS noted pockets of weakness from large US-based retailers facing trade-related pressure and decline in spend from APAC advertisers as the primary near-term headwinds to growth. Meanwhile, PINS continues to see healthy adoption of ad products including P+ ROAS bidding. Additionally, user engagement on the platform remains healthy. That said, PINS’s 2H revenue growth of 16% continues to lag large digital media platforms such as META and path to 20%+ growth is unclear at this time. Shares are trading down 20% AMC (vs Nasdaq futures flat). We have revised our FY26E revenue and EBITDA slightly lower and our new PT is $34 (vs $40 previously). We reiterate our Overweight rating given the compelling valuation for shares."

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