Pinterest Inc (PINS) PT Lowered to $39 at KeyBanc

KeyBanc analyst Justin Patterson lowered the price target on Pinterest Inc (NYSE: PINS) to $39.00 (from $45.00) while maintaining a Overweight rating.

The analyst commented, "Following 3Q results, we are lowering our PT from $45 to $39 (16x 2026E EV/EBITDA) and maintaining our Overweight rating. 4Q revenue guidance came in below expectations, and we believe that will exacerbate concerns over Pinterest's Investor Day growth targets, particularly as growth decelerates in 1Q25E as Pinterest laps Easter Shift and Leap Year benefits. From our perspective, this is a timing issue. Engagement is still solid, partnerships and new products are ramping, and eventually monetization should follow."

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