BMO Capital Markets Lowers Pinterest (NYSE:PINS) Price Target to $35.00

Pinterest (NYSE:PINS) had its price objective cut by equities research analysts at BMO Capital Markets from $41.00 to $35.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 32.95% from the company’s current price.

Several other equities analysts have also issued reports on PINS. Monness Crespi & Hardt lowered Pinterest from a “buy” rating to a “neutral” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Stifel Nicolaus raised their price target on shares of Pinterest from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Citigroup reiterated a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of Pinterest in a report on Friday, August 8th. Finally, TD Cowen increased their price objective on shares of Pinterest from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.23.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $26.33 on Wednesday. Pinterest has a 52 week low of $23.68 and a 52 week high of $40.90. The firm has a market cap of $17.90 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. The firm’s fifty day moving average is $33.78 and its 200-day moving average is $33.77.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. Pinterest had a return on equity of 8.20% and a net margin of 48.99%.The business had revenue of $665.93 million for the quarter. Sell-side analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total transaction of $795,311.85. Following the completion of the sale, the chief financial officer directly owned 312,422 shares of the company’s stock, valued at approximately $10,887,906.70. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total value of $3,558,613.38. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 640,236 shares of company stock worth $22,878,326. 7.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently bought and sold shares of PINS. Snowden Capital Advisors LLC lifted its stake in Pinterest by 4.4% during the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after acquiring an additional 296 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Pinterest by 10.1% in the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after purchasing an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its position in shares of Pinterest by 3.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after purchasing an additional 359 shares in the last quarter. Finally, Dynamic Wealth Strategies LLC boosted its holdings in Pinterest by 5.8% during the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock worth $237,000 after purchasing an additional 361 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.