US Stock Market News | Pinterest drops more than 11% as third-quarter guidance falls short of expectations
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Pinterest's stock price fell by more than 11%, closing at $33.2, due to the company's third-quarter guidance falling short of expectations. Several institutions have lowered their target prices, with Baird analyst Colin Sebastian lowering it to $41 and RBC analyst Josh Beck lowering it to $40. Pinterest's second-quarter revenue was $853.7 million, a 21% year-on-year increase. Monthly active users reached 522 million. Third-quarter revenue is expected to be between $885 million and $900 million
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