As analysts say that Pinterest is struggling to increase ad revenues, the stock price of Pinterest has dropped.

The Key Takeaways

• The price of Pinterest fell as Jefferies downgraded and reduced its target for the stock.
• Analysts said Pinterest hasn't done enough to generate consistent advertising revenue.
• The company has rolled out AI tools for advertisers, but Jefferies said it's too early to expect the revenue growth Wall Street is projecting.

Pinterest shares (PINS), which are traded on the New York Stock Exchange, fell sharply Monday following a downgrade by Jefferies due to advertising revenue worries.

It has now dropped the rating of Pinterest. “hold” You can also find out more about us on our website. “buy” Its price target from $40 to $32. Visible Alpha tracks the consensus of analysts’ price targets, which is approximately $39. Pinterest shares fell by more than 1% during recent trading and have fallen roughly 18% in the last 12 months.

Pinterest is "struggling to move beyond experimental” advertiser spending into “Never miss a beat” ad buys, Jefferies said. It’s also likely “Too early” for Pinterest’s new Performance+ artificial intelligence advertiser tools to generate the mid-teens revenue growth called for by Wall Street in the first quarter, analysts added.

Jefferies projects 10% growth, compared to the consensus of 13% from Visible Alpha.

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