JPMorgan Chase & Co. Lowers Pinterest (NYSE:PINS) Price Target to $30.00

Pinterest (NYSE:PINS - Get Free Report) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $42.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.86% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler restated a "neutral" rating and set a $41.00 price target (up previously from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Sanford C. Bernstein upgraded shares of Pinterest from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $34.00 to $47.00 in a research report on Friday, February 7th. Benchmark raised Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Friday, February 7th. Raymond James cut shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Finally, Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.23.

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Pinterest Stock Performance

Shares of Pinterest stock traded up $0.12 on Tuesday, reaching $26.35. The company had a trading volume of 9,048,658 shares, compared to its average volume of 10,421,439. The firm has a market cap of $17.87 billion, a PE ratio of 9.79, a PEG ratio of 1.95 and a beta of 0.99. The firm's 50 day moving average price is $33.42 and its two-hundred day moving average price is $32.16. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results 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%. As a group, sell-side analysts predict that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the transaction, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company's stock, valued at $5,399,072.34. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,836 shares of company stock valued at $14,832,336 in the last 90 days. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Radnor Capital Management LLC bought a new position in Pinterest during the 1st quarter worth $751,000. Lifestyle Asset Management Inc. acquired a new position in shares of Pinterest during the first quarter worth $911,000. Hennion & Walsh Asset Management Inc. raised its position in Pinterest by 44.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 23,690 shares of the company's stock valued at $734,000 after purchasing an additional 7,299 shares during the last quarter. Merit Financial Group LLC grew its holdings in Pinterest by 231.6% during the 1st quarter. Merit Financial Group LLC now owns 41,469 shares of the company's stock worth $1,286,000 after acquiring an additional 28,962 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in shares of Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

Pinterest Company Profile

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.