BWG Global Downgrades Pinterest (PINS), Expects Q2 Spending to Decelerate YoY

Pinterest, Inc. (NYSE:PINS) is one of the best cheap stocks to buy under $20. On April 24, Pinterest, Inc. (NYSE:PINS) was downgraded to Mixed from Positive by BWG Global. Based on partner checks, the firm contended that weak advertisement spending on the company mostly met expectations during Q1, and Q2 spending is expected to decelerate slightly year-over-year.

Pinterest, Inc. (NYSE:PINS) also received a rating update from UBS on April 21. The firm raised the price target on the stock to $29 from $26 and reaffirmed a Buy rating on the shares, telling investors in a research note that top-line growth reacceleration depends upon the company’s ability to scale its platform and increase utility across the advertising funnel. It further stated that while Performance+ is continuing to perform well with advertisers, concerns remain around a relatively limited audience base and potential budget share loss to competitors like TikTok. In addition, recent checks show that the tvScientific acquisition is not likely to be a meaningful near-term catalyst, according to UBS.

Pinterest, Inc. (NYSE:PINS) operates a pinboard-style photo-sharing website, allowing users to manage and create theme-based image collections such as interests, events, and hobbies.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.