Pinterest (NYSE:PINS) Price target lowered to $21.00 at Morgan Stanley


Pinterest (NYSE:PINS – Get Noted) had its target price reduced by Morgan Stanley from $28.00 to $21.00 in a research report released Wednesday to clients and investors, reports The Fly. Morgan Stanley’s target price would indicate a potential upside of 6.87% from the current share price.

Several other research companies have also recently commented on PINS. TheStreet upgraded Pinterest shares from a “d+” rating to a “c” rating in a Monday, April 18 research rating. Benchmark launched coverage on Pinterest stocks in a research note on Tuesday, March 1. They issued a “hold” rating for the company. UBS Group raised its price target on Pinterest shares from $32.00 to $35.00 and gave the stock a “neutral” rating in a Friday, Feb. 4 research note. Rosenblatt Securities launched coverage on Pinterest shares in a research note on Tuesday, April 19. They set a “neutral” rating and a target price of $21.00 for the company. Finally, Wedbush lowered its target price on Pinterest shares from $39.00 to $26.00 in a Thursday, April 28 research note. Twenty research analysts gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.28.

Pinterest stock opened Wednesday at $19.65. Pinterest has a fifty-two week low of $16.14 and a fifty-two week high of $81.77. The company has a 50-day moving average price of $22.32 and a 200-day moving average price of $28.60. The company has a market capitalization of $13.04 billion, a PE ratio of 40.94, a price-to-earnings growth ratio of 3.66 and a beta of 1.24.

Pinterest (NYSE:PINS – Get Rating) last released its quarterly results on Wednesday, April 27. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.11. The company posted revenue of $574.89 million in the quarter, versus a consensus estimate of $568.27 million. Pinterest had a net margin of 12.48% and a return on equity of 12.69%. In the same quarter a year earlier, the company posted ($0.02) earnings per share. As a group, research analysts predict that Pinterest will post 0.38 earnings per share for the current year.

Separately, General Counsel Christine Flores sold 31,913 shares of the company in a transaction dated Monday, March 21. The shares were sold at an average price of $25.47, for a total transaction of $812,824.11. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. Additionally, SVP Naveen Gavini sold 5,491 shares of the company in a trade dated Thursday, May 12. The stock was sold at an average price of $20.00, for a total transaction of $109,820.00. As a result of the transaction, the senior vice president now owns 529,551 shares of the company, valued at $10,591,020. The disclosure of this sale can be found here. Insiders sold 358,339 shares of the company valued at $8,200,218 in the past ninety days. Company insiders own 7.58% of the company’s shares.

Several institutional investors have recently changed their stake in the company. Harris Associates LP increased its position in Pinterest by 19,142.5% during the first quarter. Harris Associates LP now owns 18,558,778 shares of the company worth $456,731,000 after purchasing an additional 18,462,331 shares during the period. Renaissance Technologies LLC increased its position in Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company worth $283,399,000 after purchasing an additional 8,341,222 shares during the period. Viking Global Investors LP acquired a new position in Pinterest during the third quarter worth approximately $368,411,000. Norges Bank acquired a new position in Pinterest during the fourth quarter worth approximately $178,278,000. Finally, Deutsche Bank AG increased its position in Pinterest by 498.8% during the fourth quarter. Deutsche Bank AG now owns 5,328,364 shares of the company worth $193,686,000 after purchasing an additional 4,438,503 shares during the period. Institutional investors and hedge funds hold 63.76% of the company’s shares.

About Pinterest (Get a rating)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company’s engine enables people to find inspiration for their lives, including recipes, style and inspiration for home, DIY and more; and provides video, product, and idea Pins. It displays machine-learning visual recommendations based on pinners’ likes and interests.

Further reading

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