Pinterest (NYSE:PINS) Price Target Cut to $27.00 by Analysts at Morgan Stanley
by Michael Walen · The Markets DailyPinterest (NYSE:PINS – Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $35.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 44.04% from the company’s current price.
PINS has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of Pinterest from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Argus lowered shares of Pinterest from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. BMO Capital Markets set a $28.00 price target on shares of Pinterest and gave the company an “outperform” rating in a research report on Friday, February 13th. Citigroup cut Pinterest from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $19.00 in a report on Friday, February 13th. Finally, TD Cowen decreased their target price on Pinterest from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nineteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.61.
Read Our Latest Report on PINS
Pinterest Trading Up 1.9%
Shares of Pinterest stock traded up $0.36 on Wednesday, reaching $18.75. 7,117,227 shares of the stock were exchanged, compared to its average volume of 19,782,068. The firm has a market capitalization of $12.47 billion, a PE ratio of 30.73, a PEG ratio of 1.24 and a beta of 0.93. Pinterest has a 1-year low of $13.84 and a 1-year high of $39.93. The business has a fifty day moving average price of $20.16 and a two-hundred day moving average price of $26.34.
Pinterest (NYSE:PINS – Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts expect that Pinterest will post 0.6 EPS for the current year.
Insider Buying and Selling
In related news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 695,187 shares of the company’s stock, valued at approximately $15,335,825.22. The trade was a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 5,636 shares of company stock worth $131,614. Company insiders own 7.11% of the company’s stock.
Hedge Funds Weigh In On Pinterest
A number of institutional investors have recently modified their holdings of the company. Snowden Capital Advisors LLC boosted its holdings in Pinterest by 4.4% in the second 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 during the last quarter. EP Wealth Advisors LLC increased its stake in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after acquiring an additional 358 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Pinterest by 3.6% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after purchasing an additional 359 shares during the period. Dynamic Wealth Strategies LLC lifted its stake in shares of Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after purchasing an additional 361 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Pinterest by 22.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,143 shares of the company’s stock worth $69,000 after purchasing an additional 389 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.
Pinterest Company Profile
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.