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.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Pinterest right now?
Before you consider Pinterest, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes viral…and Pinterest wasn’t on the list.
While Pinterest currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here