Pinterest Inc (PINS) PT Lowered to $34 at Baird

Baird analyst Colin Sebastian lowered the price target on Pinterest Inc (NYSE: PINS) to $34.00 (from $42.00) while maintaining a Outperform rating.

The analyst commented: "While checks on Pinterest were fairly constructive in Q4 and earlier in Q1, we assume the platform has more exposure to shifting ad budgets in periods of macro uncertainty than the larger platforms/duopoly. Importantly, we believe recent platform improvements including shopping ad formats, deep linking, and automation will help to mitigate, but not offset, ad industry headwinds. As such, we are lowering our 2025 revenue estimate to $4.13 billion (+13.3% Y/Y) from $4.18 billion; with adjusted EBITDA of $1.21 billion. Price target. Reflecting our updated estimates and sector multiple contraction, we are lowering our 12-month price target to $34 from $42, based on 4x 2026E EV/Revenues and 15x 2026E EV/EBITDA, at the high end of digital advertising/e-commerce peers of 1-7x and 5-30x, respectively"

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