Pinterest price target lowered to $16 from $30 at Wedbush

Wedbush analyst Scott Devitt lowered the firm’s price target on Pinterest (PINS) to $16 from $30 and keeps a Neutral rating on the shares. The firm notes Pinterest reported Q4 results below expectations. Next quarter, Pinterest anticipates revenue growth of up 12.5% year-over-year at the midpoint, below Street estimates by 230bps, and adjusted EBITDA guidance of $166M to $186M was below initial expectations by $29M at the midpoint, Wedbush adds.

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