Pinterest price target lowered to $16 from $30 at Wedbush

Wedbush expert Scott Devitt lowered the firm’s price target connected Pinterest (PINS) to $16 from $30 and keeps a Neutral standing connected the shares. The steadfast notes Pinterest reported Q4 results beneath expectations. Next quarter, Pinterest anticipates gross maturation of up 12.5% year-over-year astatine the midpoint, beneath Street estimates by 230bps, and adjusted EBITDA guidance of $166M to $186M was beneath archetypal expectations by $29M astatine the midpoint, Wedbush adds.

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