April 24, 2022
The shares of Pinterest Inc (NYSE: PINS) have received a $21 price target from Rosenblatt. And Rosenblatt analyst Barton Crockett initiated coverage of Pinterest with a “Neutral” rating.
Crockett adjusted the rating while noting that the loss of users in recent quarters is driving a major surge in spending that pressures adjusted EBITDA even as sales growth looks strong. And the persistent talk of potential merger suitors has not kept the shares from being swept up in the sharp turn against high multiple growth stocks.