Pinterest price target lowered to $23 from $28 at Bernstein

Bernstein lowered the firm’s price target on Pinterest to $23 from $28 and keeps a Market Perform rating on the shares. While the company said users were up, engagement was up even more, ad impressions were up even more than that in Q1, revenue growth was similar to last quarter, and expected to be the same next quarter in the mid-single-digits, with higher expenses, the analyst tells investors in a research note.