Pinterest (PINS) shares slid Monday after analysts at Jefferies downgraded the social media company over advertising revenue concerns.
The firm dropped its rating for Pinterest to “hold” from “buy” and its price target to $32 from $40. The consensus price target from analysts tracked by Visible Alpha is roughly $39. Shares of Pinterest fell more than 1% in recent trading, and are down roughly 18% over the past 12 months.
Pinterest is "struggling to move beyond experimental” advertiser spending into “always on” ad buys, Jefferies said. It’s also likely “too early” for Pinterest’s new Performance+ artificial intelligence advertiser tools to generate the mid-teens revenue growth called for by Wall Street in the first quarter, analysts added.
Jefferies projects 10% growth, compared to the consensus of 13% from Visible Alpha.
Pinterest CEO Bill Ready said the company’s “AI investments are driving results,” with lower-funnel ad tools like direct links being the fastest-growing piece when the company reported third-quarter results in November. The company saw 18% revenue growth in the period, which missed analysts’ expectations.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。