Analysts Are Cutting Price Targets of These 5 Stocks

03. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 61

On May 2, Loop Capital analyst Rob Sanderson lowered the price target on Pinterest, Inc. (NYSE:PINS) stock to $28 from $32 while maintaining a Buy rating on the shares. The analyst believes the company’s Q1 results were solid with conservative guidance. The 19% drop in the stock price is due to a valuation reset following missed expectations rather than any fundamental issues with the business. Loop Capital adds that the unique nature of the Pinterest, Inc. (NYSE:PINS) platform and its growing monetization opportunity has become more visible to investors.