Why Pinterest Stock Is Already Down 10% in 2022
Shares of Pinterest (NYSE: PINS) have already fallen 10.1% in 2022, as of the market's close on Thursday. This comes after the stock fell 45% in 2021. Shareholders undoubtedly were hoping that this year would be better than last. But they're likely disappointed with this performance out of the gate. And the analyst community isn't making it easy to know what to do, considering its members' conflicting opinions regarding Pinterest stock.
On Dec. 4, Wolfe Research analyst Deepak Mathivanan started covering Pinterest stock and gave it a $45-per-share price target, according to The Fly. That same day, Guggenheim analyst Michael Morris gave it a $39-per-share price target, according to TipRanks, lowering the stock's rating from buy to neutral. So the rating is neutral even though the price target implies roughly 20% upside from its current price.
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Source Fool.com
