Pinterest price target lowered to $40 from $50 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the firm’s price target on Pinterest (PINS) to $40 from $50 and keeps an Outperform rating on the shares. While noting that Pinterest’s growth trajectory shows signs of slowing with a deceleration in revenue growth from 17% in Q2 to an expected 15% in Q4, and highlighting that management’s margin outlook is “less optimistic,” the analyst says “there are still some promising elements in the mix.”