Piper Sandler Trims Pinterest (NYSE:PINS) Target Price to $22.00

Pinterest (NYSE:PINSGet Rating) had its price target reduced by Piper Sandler from $23.00 to $22.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Susquehanna Bancshares upgraded shares of Pinterest to a positive rating and lifted their target price for the company from $22.00 to $35.00 in a research note on Tuesday. Wedbush cut their target price on shares of Pinterest from $39.00 to $26.00 in a research note on Thursday, April 28th. Atlantic Securities set a $22.00 target price on shares of Pinterest in a research note on Tuesday, July 19th. Evercore ISI boosted their price objective on shares of Pinterest from $24.00 to $28.00 and gave the stock an in-line rating in a research report on Tuesday. Finally, DA Davidson dropped their price objective on shares of Pinterest from $33.00 to $20.00 in a research report on Thursday, April 28th. Nineteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $29.76.

Pinterest Trading Up 0.4 %

NYSE PINS opened at $22.53 on Tuesday. The stock’s 50 day moving average is $19.53 and its two-hundred day moving average is $22.64. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 72.68, a PEG ratio of 6.27 and a beta of 1.19. Pinterest has a 1-year low of $16.14 and a 1-year high of $66.00.

Pinterest (NYSE:PINSGet Rating) last posted its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a net margin of 8.10% and a return on equity of 8.35%. The firm had revenue of $666.00 million during the quarter, compared to the consensus estimate of $663.19 million. During the same quarter last year, the firm posted $0.11 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Pinterest will post 0.24 earnings per share for the current year.

Insider Activity

In other news, SVP Naveen Gavini sold 5,491 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the completion of the transaction, the senior vice president now owns 529,551 shares of the company’s stock, valued at approximately $10,591,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Naveen Gavini sold 5,491 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the completion of the transaction, the senior vice president now directly owns 529,551 shares of the company’s stock, valued at approximately $10,591,020. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Evan Sharp sold 422,399 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Insiders sold 548,619 shares of company stock valued at $10,307,146 in the last quarter. Company insiders own 7.58% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TFC Financial Management boosted its stake in Pinterest by 23.5% in the 4th quarter. TFC Financial Management now owns 2,287 shares of the company’s stock worth $83,000 after purchasing an additional 435 shares during the period. Argent Trust Co boosted its stake in shares of Pinterest by 2.6% during the 4th quarter. Argent Trust Co now owns 18,713 shares of the company’s stock worth $680,000 after buying an additional 470 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Pinterest by 5.7% during the 4th quarter. Blair William & Co. IL now owns 8,907 shares of the company’s stock worth $324,000 after buying an additional 483 shares during the last quarter. Mengis Capital Management Inc. boosted its stake in shares of Pinterest by 4.3% during the 1st quarter. Mengis Capital Management Inc. now owns 12,000 shares of the company’s stock worth $295,000 after buying an additional 500 shares during the last quarter. Finally, Koss Olinger Consulting LLC boosted its stake in shares of Pinterest by 7.2% during the 4th quarter. Koss Olinger Consulting LLC now owns 7,563 shares of the company’s stock worth $275,000 after buying an additional 508 shares during the last quarter. 63.76% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

Analyst Recommendations for Pinterest (NYSE:PINS)

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