Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Morgan Stanley Downgrades Pinterest Amid Challenges From Facebook, Google

Pinterest Google Facebook Morgan Stanley Nasdaq Brian Nowak PINS Alphabet Inc Meta NYSE
  • Morgan Stanley analyst Brian Nowak downgraded Pinterest Inc (NYSE:PINS) to Equal Weight from Overweight with a price target of $30, down from $53. The price target implies an upside of 13.4%.
  • Pinterest's user and time spent trends were challenging while it shifted existing time spent toward lower-monetizing creator videos. 
  • Nowak acknowledged the edge in larger platforms with more engineers, ad salespeople, and existing advertisers like Facebook rebranded Meta Platforms Inc (NASDAQ:FB) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google to monetize this format over smaller players like Pinterest.
  • Pinterest's Q4 sales of $847 million beat the consensus of $827.16 million. EPS of $0.49 beat the consensus of $0.45.
  • Pinterest CFO admitted that Q4 Monthly Active Users declined due to Google's November algorithm updates and competition.
  • Price Action: PINS shares closed higher by 3.77% at $26.45 on Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Latinas are succeeding, but feel pressured to playing traditional roles for women
Report from the Pew Research Center says Hispanic women in general continue to face pressure to play traditional roles, despite advances in educational attainment and entrepreneurship
WEKU
WEKU
Excel at work, start a family, be beautiful — How Latinas feel the pressure to do it all
Main takeaways from a new report by the Pew Research Center delving into the feelings of this demographic
Latin Times
Latin Times
Jennifer Lopez Swaps Her Loud Luxury Birkins for Allbirds and White Sweatpants
The singer is rarely seen without Hermès on her arm.
Marie Claire
Marie Claire
How much does it cost to run a dishwasher? And how can you save?
Are you wondering how much it costs to run a dishwasher? We've worked it out and have found ways to cut your spend
Ideal Home
Ideal Home
Rumer Willis Didn't Think Sharing Her Breastfeeding Journey Would Be Such a Huge Deal
She really didn't think she was being controversial.
Marie Claire
Marie Claire
Revealed: Magician David Copperfield accused of sexual misconduct by multiple women
A total of 16 women have accused Copperfield of sexual misconduct and inappropriate behavior spanning decades. More than half said they were teenagers at the time. Copperfield’s lawyers say the allegations are ‘not only completely false but also entirely implausible’
The Guardian - US
The Guardian - US
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play