(Bloomberg) -- The sudden tumble in the shares of Pinterest Inc. Friday has one analyst defending the stock.Sanford C. Bernstein analyst Mark Shmulik brushed off speculation that channel checks for the social-media company have been relatively muted, saying the concerns were overblown. Pinterest shares fell as much as 11% Friday, the most in more than five months, which Shmulik said created a buying opportunity. The stock pared some losses to close down 9.7%.The analyst said channel checks for Pinterest are as strong as he has ever heard, acknowledging that they remain challenging, given that significant changes from large ad buyers can have a material impact. Shmulik has a market perform rating on the stock. It has 18 buys, 9 holds and one sell rating, according to data compiled by Bloomberg.San Francisco-based Pinterest is expected to report first-quarter results on April 27 after market close. The stock has gained 16% this year and hit a record as recently as Feb. 16.(Updates share moves and chart.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.