BofA analyst Justin Post lowered the firm’s price target on Pinterest to $29 from $30 and keeps a Neutral rating on the shares. While the company beat expectations on revenue, EBITDA and users in Q1, the Q2 outlook and ad deal "underwhelmed" and patience will be required, the analyst tells investors. The firm, which sees "near-term disappointment [and] long-term opportunity," is lowering its 2023 revenue and and EBITDA estimates by 2% and 6%, respectively.
Published first on TheFly
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