Pinterest falls as analysts expect weaker ad revenue

Image-sharing platform Pinterest's PINS.N shares fall 2% to $30.85 in premarket trading

Brokerages Zephirin and Wells Fargo cut PTs to $25 and $42 respectively

Zephirin says the campaign targeting TikTok users to join PINS, launched in Q424, is underperforming

"X’s image rebranding is likely to drive advertiser shifts away from PINS, posing further headwinds for Q2" -Zephirin says

Wells Fargo sees softer macro and weaker brand ad environment that can be offset by intra-quarter FX tailwind

32 of 41 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell" or lower; their median PT is $46 - LSEG

Up to last close, stock had risen 8.5% YTD