Pinterest price target lowered to $34 from $40 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Pinterest (PINS) to $34 from $40 and keeps an Overweight rating on the shares. Pinterest’s Q3 results included revenues in line with and EBITDA 3% above Street estimates, but Q4 guide of 14%-16% year over year revenue growth came below prior Street estimates, the analyst tells investors in a research note. Pinterest noted pockets of weakness from large U.S.-based retailers facing trade-related pressure and decline in spend from APAC advertisers as the primary near-term headwinds to growth, the firm says.