Morgan Stanley reduced its Pinterest (PINS) price target from $35.00 to $27.00.
The firm cited increased difficulties in expanding and diversifying the company's advertiser base. These challenges stem from a high concentration of large retail advertisers.
Morgan Stanley maintained its Overweight rating on the stock. The new $27.00 target still suggests potential upside from current trading prices.
The bank lowered fiscal year 2026 adjusted EBITDA projections by 9%. It also reduced fiscal year 2027 adjusted EBITDA estimates by 13%.