Guggenheim Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINSGet Free Report) had its target price dropped by equities research analysts at Guggenheim from $25.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 15.59% from the company’s previous close.

Several other analysts also recently issued reports on PINS. Roth Mkm reduced their price target on Pinterest from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Wells Fargo & Company reduced their target price on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Cantor Fitzgerald set a $18.00 price target on shares of Pinterest in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinterest in a research report on Monday, December 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $20.00 price objective on shares of Pinterest in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.48.

View Our Latest Report on Pinterest

Pinterest Stock Down 0.7%

Pinterest stock opened at $18.17 on Wednesday. The company’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $25.61. The stock has a market cap of $12.08 billion, a P/E ratio of 29.78, a P/E/G ratio of 1.20 and a beta of 0.88. Pinterest has a twelve month low of $13.84 and a twelve month high of $39.93.

Pinterest (NYSE:PINSGet Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.95%. Pinterest’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. Equities analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, insider Malik Ducard sold 2,293 shares of the company’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 transaction of $50,583.58. Following the completion of the sale, the insider owned 695,187 shares of the company’s stock, valued at approximately $15,335,825.22. This represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Elevated Capital Advisors LLC acquired a new position in Pinterest during the fourth quarter worth about $26,000. N.E.W. Advisory Services LLC grew its holdings in shares of Pinterest by 505.7% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 854 shares of the company’s stock valued at $27,000 after purchasing an additional 713 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in shares of Pinterest by 3,839.1% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock valued at $29,000 after purchasing an additional 883 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Pinterest by 2,017.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Addison Advisors LLC increased its position in Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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Pinterest Company Profile

(Get Free Report)

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.

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