TD Cowen Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS - Get Free Report) had its target price lowered by equities research analysts at TD Cowen from $46.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price indicates a potential upside of 51.82% from the company's current price.

Other analysts have also recently issued reports about the company. Raymond James cut Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Guggenheim reaffirmed a "buy" rating on shares of Pinterest in a research note on Tuesday, April 1st. Wedbush lifted their price target on Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Rosenblatt Securities boosted their price target on Pinterest from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price objective on Pinterest from $47.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Eight research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.23.

Pinterest Stock Performance

NYSE:PINS traded up $0.12 during trading hours on Tuesday, hitting $26.35. The stock had a trading volume of 9,048,658 shares, compared to its average volume of 10,421,439. The business's 50 day moving average is $33.42 and its 200-day moving average is $32.16. The company has a market cap of $17.87 billion, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest has a one year low of $23.68 and a one year high of $45.19.

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

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 453,836 shares of company stock worth $14,832,336. 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. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after buying an additional 4,527,902 shares during the period. State Street Corp lifted its stake in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after purchasing an additional 156,748 shares during the last quarter. FMR LLC grew its holdings in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares during the last quarter. Finally, Norges Bank purchased a new stake in Pinterest in the fourth quarter valued at about $358,205,000. 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.