Pinterest (NYSE:PINS - Get Free Report) had its price target reduced by research analysts at Bank of America from $46.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price objective would indicate a potential upside of 36.03% from the company's current price.
Several other research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp cut their price target on shares of Pinterest from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Barclays lifted their price objective on shares of Pinterest from $36.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 target price for the company in a research report on Friday, January 10th. Finally, TD Cowen decreased their target price on Pinterest from $46.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.23.
Read Our Latest Stock Analysis on PINS
Pinterest Price Performance
Shares of NYSE PINS traded down $0.64 during trading on Wednesday, hitting $25.73. The stock had a trading volume of 3,516,073 shares, compared to its average volume of 10,413,416. The firm has a fifty day moving average of $33.42 and a two-hundred day moving average of $32.16. The company has a market capitalization of $17.45 billion, a PE ratio of 9.57, a PEG ratio of 1.95 and a beta of 0.99. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19.
Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. On average, equities analysts expect that Pinterest will post 0.6 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CAO Andrea Acosta sold 3,667 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 453,836 shares of company stock worth $14,832,336. Corporate insiders own 7.11% of the company's stock.
Hedge Funds Weigh In On Pinterest
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new stake in Pinterest in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after buying an additional 415 shares during the period. NBC Securities Inc. raised its holdings in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust bought a new stake in Pinterest during the 1st quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL increased its position in shares of Pinterest by 401.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company's stock valued at $44,000 after acquiring an additional 1,204 shares during the period. 88.81% of the stock is currently owned by institutional investors.
About Pinterest
(
Get Free Report)
Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.
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