Pinterest (NYSE:PINS) Rating Increased to C at TheStreet

Pinterest (NYSE:PINS – Get Rating) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a report issued on Monday, TheStreetRatingsTable reports.

Several other research firms have also commented on PINS. Piper Sandler cut their price objective on Pinterest from $53.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, February 4th. Guggenheim cut Pinterest from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $39.00 in a report on Tuesday, January 4th. Benchmark initiated coverage on Pinterest in a report on Tuesday, March 1st. They issued a “hold” rating on the stock. Royal Bank of Canada cut their target price on Pinterest from $51.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Friday, February 4th. Finally, KeyCorp cut their target price on Pinterest from $54.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. Twenty research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.12.

Shares of Pinterest stock opened at $22.72 on Monday. Pinterest has a twelve month low of $21.24 and a twelve month high of $81.77. The business has a 50-day moving average price of $24.66 and a 200 day moving average price of $34.65. The firm has a market cap of $14.95 billion, a PE ratio of 49.39, a P/E/G ratio of 7.00 and a beta of 1.19.

Pinterest (NYSE:PINS – Get Rating) last announced its quarterly earnings results on Thursday, February 3rd. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Pinterest had a return on equity of 13.74% and a net margin of 12.27%. The firm had revenue of $846.66 million during the quarter, compared to analyst estimates of $831.23 million. During the same quarter in the previous year, the business earned $0.30 EPS. Sell-side analysts anticipate that Pinterest will post 0.24 earnings per share for the current fiscal year.

In related news, Director Evan Sharp sold 56,970 shares of the firm’s stock in a transaction dated Friday, January 21st. The shares were sold at an average price of $29.97, for a total value of $1,707,390.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Naveen Gavini sold 5,491 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $23.16, for a total transaction of $127,171.56. Following the completion of the sale, the senior vice president now owns 535,042 shares of the company’s stock, valued at approximately $12,391,572.72. The disclosure for this sale can be found here. Insiders have sold 350,653 shares of company stock valued at $9,624,505 in the last quarter. Insiders own 8.45% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PINS. Morgan Stanley boosted its position in Pinterest by 5.4% during the second quarter. Morgan Stanley now owns 29,235,157 shares of the company’s stock worth $2,308,115,000 after acquiring an additional 1,487,797 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Pinterest by 23.2% during the third quarter. Commonwealth Equity Services LLC now owns 218,366 shares of the company’s stock worth $11,125,000 after acquiring an additional 41,189 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Pinterest by 105.1% in the 3rd quarter. Nordea Investment Management AB now owns 325,992 shares of the company’s stock valued at $16,632,000 after purchasing an additional 167,031 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of Pinterest by 1.2% in the 3rd quarter. Independent Advisor Alliance now owns 27,056 shares of the company’s stock valued at $1,379,000 after purchasing an additional 316 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Pinterest in the 3rd quarter valued at $1,013,000.

About Pinterest (Get Rating)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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