Pinterest Analysts Slash Their Forecasts After Q3 Results - Pinterest (NYSE:PINS)

Core Insights - Pinterest Inc reported third-quarter revenue of $1.05 billion, meeting analysts' expectations, but adjusted earnings per share of 38 cents fell short of the anticipated 42 cents [1][2] - The company anticipates fourth-quarter revenue between $1.31 billion and $1.34 billion, slightly below the consensus estimate of $1.34 billion, with expected adjusted EBITDA of $533 million to $558 million [2] Financial Performance - Third-quarter revenue was $1.05 billion, aligning with analyst estimates [1] - Adjusted earnings per share were 38 cents, missing the expected 42 cents [1] - Fourth-quarter revenue guidance is set between $1.31 billion and $1.34 billion, with adjusted EBITDA projected at $533 million to $558 million [2] Market Reaction - Following the earnings announcement, Pinterest shares declined by 2.3%, closing at $32.91 [3] - Analysts adjusted their price targets for Pinterest post-earnings, with varying opinions on the stock's outlook [3][5] Analyst Ratings - B of A Securities maintained a Buy rating but reduced the price target from $44 to $39 [5] - Rosenblatt downgraded Pinterest from Buy to Neutral, lowering the price target from $49 to $30 [5] - BMO Capital kept an Outperform rating while decreasing the price target from $41 to $35 [5]