Pinterest Announces Global Restructuring Plan
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: seekingalpha
- Layoff Plan: Pinterest has announced a global restructuring plan that is expected to reduce its workforce by less than 15%, aimed at enhancing operational efficiency and addressing market challenges.
- Stock Reaction: Following the restructuring announcement, Pinterest's shares fell 3.17% in pre-market trading to $25.08, reflecting market concerns about the company's future outlook.
- Financial Impact: The restructuring is anticipated to incur pre-tax charges of approximately $35 million to $45 million, primarily in cash-related expenditures, which will exert pressure on the company's short-term financial health.
- Timeline for Completion: The restructuring plan is expected to be completed by the end of the third quarter, aiming to achieve long-term sustainable growth through optimized office space and resource allocation.
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Analyst Views on PINS
Wall Street analysts forecast PINS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PINS is 38.41 USD with a low forecast of 30.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Analyst Rating
18 Buy
6 Hold
0 Sell
Strong Buy
Current: 22.560
Low
30.00
Averages
38.41
High
50.00
Current: 22.560
Low
30.00
Averages
38.41
High
50.00
About PINS
Pinterest, Inc. (Pinterest) offers visual search and discovery platform. The Company’s primary service, Pinterest, can be accessed through its mobile application or the Web. People use Pinterest to find ideas. As they browse Pinterest content, Pins, they fine-tune their tastes and find the idea. Users interact with the platform in multi-session journeys to find inspiration, curate their latest look, plan their next project and shop from brands. It has approximately 553 million monthly active users across the world. Content on Pinterest comes from a variety of sources, including retailers, brands, creators, publishers and users. It acquires that content via a range of methods, including product catalog uploads, direct publishing, and user curation. Content formats include images that allow the user to click into an idea to learn more, videos that provide the steps of an idea, and products that brands and merchants upload from catalogs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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