Pinterest, Inc. (NYSE:PINS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pinterest, Inc. (NYSE:PINS) has been assigned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are covering the stock, MarketBeat Ratings reports. Eighteen equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $25.8677.

PINS has been the subject of a number of recent analyst reports. Monness Crespi & Hardt cut Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday, November 5th. Bank of America restated a “neutral” rating and set a $19.00 target price (down previously from $39.00) on shares of Pinterest in a report on Friday, February 13th. Benchmark cut their price target on Pinterest from $39.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. BMO Capital Markets set a $28.00 price target on shares of Pinterest and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, KeyCorp decreased their price objective on shares of Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd.

Insider Activity at Pinterest

In related news, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total value of $50,583.58. Following the completion of the sale, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This trade represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,407 shares of company stock worth $855,925 over the last three months. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds have recently added to or reduced their stakes in PINS. Envestnet Asset Management Inc. grew its position in Pinterest by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock worth $33,333,000 after acquiring an additional 241,527 shares during the last quarter. Peak Retirement Planning Inc. acquired a new stake in shares of Pinterest during the third quarter valued at about $1,850,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Pinterest by 15.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 835,179 shares of the company’s stock worth $26,600,000 after purchasing an additional 110,089 shares during the last quarter. Renaissance Group LLC increased its stake in shares of Pinterest by 4.5% in the second quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after buying an additional 43,541 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after buying an additional 49,204 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Down 6.4%

Shares of PINS stock opened at $16.64 on Tuesday. Pinterest has a 12-month low of $13.84 and a 12-month high of $39.93. The company has a market capitalization of $11.07 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.25 and a beta of 0.92. The firm has a 50-day moving average price of $23.43 and a 200 day moving average price of $28.92.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $0.56 earnings per share. Pinterest’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts expect that Pinterest will post 0.6 earnings per share for the current year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.