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Pinterest Shares Plunge Despite Upbeat Q2 Results: 6 Analysts On Guidance, Future Growth

Benzinga ·  12:29

Shares ofPinterest Inc (NYSE:PINS)tanked in early trading on Wednesday, despite the company reporting upbeat second-quarter results.

The results came amid an exciting earnings season. Here are some key analyst takeaways.

Wedbush OnPinterest

Analyst Scott Devitt reiterated a Neutral rating, while reducing the price target from $46 to $37.

Although Pinterest reported healthy quarterly results, its guidance was disappointing, Devitt said in a note. "Expectations were elevated heading into results given a strong 1Q report and encouraging checks for 2Q," he added.

While the company's revenues came in around 1% higher than consensus, management projected a third-quarter year-on...

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