Investment firm Stifel has adjusted its outlook for Pinterest (PINS, Financial), lowering the stock's price target significantly from $50 to $36. Despite maintaining a Buy rating, the firm expresses caution about the broader digital advertising and e-commerce sectors.
Stifel cites a more resilient advertising market than previously anticipated; however, they are revising their projections for digital advertising, e-commerce, marketplaces, and subscription-based services across the board. The firm anticipates a slowdown or potential decline in gross merchandise value (GMV) growth for e-commerce and marketplace platforms, as consumers deal with escalating prices.
Reflecting on the current market challenges, Stifel notes that outside of the COVID-19 pandemic period, it has not experienced a similar level of uncertainty in projecting future performance for these sectors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 34 analysts, the average target price for Pinterest Inc (PINS, Financial) is $41.03 with a high estimate of $55.00 and a low estimate of $25.00. The average target implies an upside of 66.25% from the current price of $24.68. More detailed estimate data can be found on the Pinterest Inc (PINS) Forecast page.
Based on the consensus recommendation from 41 brokerage firms, Pinterest Inc's (PINS, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Pinterest Inc (PINS, Financial) in one year is $40.26, suggesting a upside of 63.13% from the current price of $24.68. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Pinterest Inc (PINS) Summary page.
