BUZZ-Pinterest falls as analysts expect weaker ad revenue

Reuters
03-31
BUZZ-Pinterest falls as analysts expect weaker ad revenue

** Image-sharing platform Pinterest's PINS.N shares fall 2% to $30.85 in premarket trading

** Brokerages Zephirin and Wells Fargo cut PTs to $25 and $42 respectively

** Zephirin says the campaign targeting TikTok users to join PINS, launched in Q424, is underperforming

** "X’s image rebranding is likely to drive advertiser shifts away from PINS, posing further headwinds for Q2" -Zephirin says

** Wells Fargo sees softer macro and weaker brand ad environment that can be offset by intra-quarter FX tailwind

** 32 of 41 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell" or lower; their median PT is $46 - LSEG

** Up to last close, stock had risen 8.5% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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