Stifel cuts Pinterest PT ahead of Q1 results, shares down

Auto Pins (India)

18/04/2022 17:35

** Shares of image sharing platform  PINS.N  down 3.7%
at$21.33, their lowest since June 2020 
    ** Stifel cuts PT to $31 from $34 ahead of Q1 earnings
release, still implying an upside of 44.5% from last close 
    ** Brokerage lowers its Q1 monthly active users estimates
for co to a net decline of 2 mln sequentially as third-party
data suggests a rapid reduction in app download activity 
    ** "We remain cautious on shares despite the implied upside
to our target as we await stabilization in the user base"
-Stifel
    ** PINS is scheduled to report Q1 results on April 27
    ** 35 analysts cover stock, on avg rating it "HOLD", median
PT is $37-Refinitiv data
    ** PINS down 41.3% YTD vs NASDAQ Composite Index's  .IXIC 
15.4% fall

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))