Pinterest price target lowered to $28 from $32 at Loop Capital

Loop Capital analyst Rob Sanderson lowered the firm’s price target on Pinterest to $28 from $32 but keeps a Buy rating on the shares. The company reported a "solid" Q1 with "conservative" guidance, and the 19% decline in the stock price reflects a valuation reset on an expectations miss rather than fundamental concerns with the business, the analyst tells investors in a research note. Loop Capital adds that the uniqueness of the Pinterest platform and monetization opportunity has been "growing more visible to investors".