The Goldman Sachs Group Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS - Get Free Report) had its price objective dropped by stock analysts at The Goldman Sachs Group from $47.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 58.95% from the company's previous close.

A number of other analysts have also weighed in on PINS. Monness Crespi & Hardt raised Pinterest from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Wedbush boosted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Wells Fargo & Company cut their target price on Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. TD Cowen lowered their price target on Pinterest from $46.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James lowered Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.55.

Pinterest Stock Down 1.1 %

Shares of Pinterest stock traded down $0.29 during trading on Monday, reaching $25.17. The company's stock had a trading volume of 8,877,896 shares, compared to its average volume of 10,496,539. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19. The firm's 50-day moving average is $32.25 and its two-hundred day moving average is $31.92. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.95 and a beta of 0.99.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities research analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now directly owns 29,086 shares of the company's stock, valued at $1,139,880.34. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 452,686 shares of company stock valued at $14,797,342 over the last three months. Insiders own 7.11% of the company's stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently bought and sold shares of PINS. Whipplewood Advisors LLC bought a new position in shares of Pinterest in the fourth quarter worth about $28,000. GAMMA Investing LLC raised its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $31,000 after acquiring an additional 415 shares during the period. NBC Securities Inc. lifted its holdings in Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares in the last quarter. American National Bank & Trust bought a new position in shares of Pinterest in the first quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL increased its stake 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 worth $44,000 after purchasing an additional 1,204 shares in the last quarter. 88.81% of the stock is owned by institutional investors.

About Pinterest

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.