Pinterest CEO Fires Employees Over Layoff Tracking Tool
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4d ago
0mins
Should l Buy PINS?
Source: Benzinga
- Layoff Tool Controversy: Pinterest CEO Bill Ready fired employees who developed an internal layoff tracking tool during an all-hands meeting, emphasizing the importance of constructive debate while criticizing what he deemed 'obstructionist' behavior, indicating a zero-tolerance approach to internal dissent.
- Privacy and Transparency: Ready stated that Pinterest would not disclose detailed layoff information due to privacy concerns, with future communications expected at the team level, potentially impacting employee trust in the company's transparency.
- Executive Appointment: Pinterest appointed former Meta executive Damian Kim as Vice President of APAC Enterprise Sales to drive regional growth, signaling the company's strategic restructuring amid an AI push.
- Stock Price Volatility: Over the past year, Pinterest's stock has declined by 37.21%, closing at $20.77 on Tuesday, down 5.59% from the previous trading day, reflecting market concerns regarding the company's layoff and restructuring strategies.
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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: 19.320
Low
30.00
Averages
38.41
High
50.00
Current: 19.320
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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