Evercore ISI Boosts Pinterest (NYSE:PINS) Price Target to $28.00

Pinterest (NYSE:PINSGet Rating) had its price objective lifted by Evercore ISI from $24.00 to $28.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have a maintains rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Credit Suisse Group cut their price target on Pinterest from $31.00 to $26.00 and set a neutral rating for the company in a research note on Tuesday, July 19th. MKM Partners cut their price target on Pinterest from $38.00 to $28.00 in a research note on Thursday, April 28th. KeyCorp cut their price target on Pinterest from $36.00 to $24.00 and set an overweight rating for the company in a research note on Tuesday, July 26th. TheStreet downgraded Pinterest from a c rating to a d+ rating in a research note on Tuesday, May 31st. Finally, Morgan Stanley cut their price target on Pinterest from $21.00 to $18.00 and set an equal weight rating for the company in a research note on Tuesday, July 19th. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Pinterest has a consensus rating of Hold and a consensus target price of $29.60.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $22.31 on Tuesday. Pinterest has a fifty-two week low of $16.14 and a fifty-two week high of $66.00. The business has a 50-day simple moving average of $19.40 and a two-hundred day simple moving average of $22.71. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 5.48 and a beta of 1.19.

Pinterest (NYSE:PINSGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a return on equity of 12.69% and a net margin of 12.48%. The business had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $663.19 million. During the same period last year, the firm posted $0.11 EPS. Pinterest’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Pinterest will post 0.24 earnings per share for the current year.

Insider Transactions at Pinterest

In other news, SVP Naveen Gavini sold 4,756 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.01, for a total transaction of $95,167.56. Following the sale, the senior vice president now directly owns 501,653 shares of the company’s stock, valued at approximately $10,038,076.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Naveen Gavini sold 4,756 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.01, for a total transaction of $95,167.56. Following the sale, the senior vice president now directly owns 501,653 shares of the company’s stock, valued at approximately $10,038,076.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan Sharp sold 422,399 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $17.52, for a total value of $7,400,430.48. The disclosure for this sale can be found here. Insiders have sold 548,619 shares of company stock valued at $10,307,146 in the last ninety days. Corporate insiders own 7.58% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KRS Capital Management LLC purchased a new stake in Pinterest during the 4th quarter valued at $26,000. Sandy Cove Advisors LLC purchased a new stake in Pinterest during the 4th quarter valued at $33,000. Cohanzick Management LLC purchased a new stake in Pinterest during the 1st quarter valued at $25,000. Covestor Ltd purchased a new stake in Pinterest during the 4th quarter valued at $46,000. Finally, Allworth Financial LP raised its holdings in Pinterest by 134.4% during the 2nd quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock valued at $25,000 after buying an additional 797 shares during the period. Hedge funds and other institutional investors own 63.76% of the company’s stock.

About Pinterest

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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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