Wedbush analyst Scott Devitt upgrades $Pinterest (PINS.US)$ to a buy rating, and adjusts the target price from $46 to $38.
According to TipRanks data, the analyst has a success rate of 53.1% and a total average return of 13.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Pinterest (PINS.US)$'s main analysts recently are as follows:
Pinterest's third-quarter revenue met projections, with user expansion and margin growth standing out as positive aspects during this period, according to an analyst. In light of the company's modest fourth-quarter guidance, there has been a slight downward revision in the revenue and EBITDA expectations for the fiscal year 2025, yet a more consistent advancement is anticipated for that year.
The company's sales growth into the holiday season is being affected by persistent pressures in the Food & Beverage sector that have been ongoing since December 2023, despite generally stable macro trends.
Persistent category headwinds experienced in the third quarter are expected to continue into the fourth. The analyst has adjusted the revenue projections for 2025 downwards by 2% and for 2026 by 2.2%. There is an anticipation for Pinterest's growth rates to potentially rebound beginning in the second quarter of 2025, and more confidently by the third quarter, as the company overcomes these challenges.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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