Wedbush cut Pinterest Inc. (NYSE: PINS) to Neutral from Outperform and trimmed its price target to $30 after the company issued mixed third-quarter results and guided to revenue growth roughly 100 basis points below initial expectations for the upcoming quarter.

The analyst said Pinterest's outlook incorporated a wider range of potential outcomes amid macroeconomic uncertainty and tariff effects. Additionally, investors were increasingly focused on risks posed by rising adoption of competing agentic commerce tools among consumers. These pressures, Wedbush said, outweighed benefits from lapping prior CPG weakness and easier year-over-year comparisons in the second half of 2025.

Following the report, sentiment weakened and shares were trading around 10x the firm's 2027 adjusted EBITDA estimate. While Wedbush still believed Pinterest remained on track to achieve the lower end of its medium-term objectives, it saw reduced visibility into catalysts that could meaningfully accelerate growth. The firm revised its long-term expectations downward and shifted its rating to Neutral, lowering the price target to $30 from $34.