Pinterest (NYSE:PINS – Get Rating) had its price target cut by equities research analysts at MKM Partners from $38.00 to $28.00 in a report issued on Thursday, The Fly reports. MKM Partners’ price objective would indicate a potential upside of 49.97% from the stock’s current price.
PINS has been the topic of several other reports. Guggenheim cut Pinterest from a “buy” rating to a “neutral” rating and lowered their target price for the company from $46.00 to $39.00 in a research report on Tuesday, January 4th. UBS Group raised their target price on shares of Pinterest from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, February 4th. Citigroup dropped their price target on Pinterest from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 20th. Credit Suisse Group cut their target price on shares of Pinterest from $39.00 to $31.00 in a research report on Thursday. Finally, DA Davidson decreased their target price on shares of Pinterest from $45.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, February 4th. Twenty analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.23.
Shares of PINS stock opened at $18.67 on Thursday. Pinterest has a 52 week low of $18.32 and a 52 week high of $81.77. The company’s fifty day simple moving average is $23.99 and its 200-day simple moving average is $33.47. The company has a market cap of $12.29 billion, a PE ratio of 40.59, a P/E/G ratio of 7.59 and a beta of 1.19.
Pinterest (NYSE:PINS – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.21. Pinterest had a net margin of 12.27% and a return on equity of 13.74%. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities analysts forecast that Pinterest will post 0.2 earnings per share for the current fiscal year.
In other news, SVP Naveen Gavini sold 22,957 shares of the business’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $25.47, for a total transaction of $584,714.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benjamin Silbermann sold 59,154 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $20.58, for a total transaction of $1,217,389.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,323 shares of company stock valued at $6,978,440. 8.45% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Viking Global Investors LP bought a new stake in shares of Pinterest in the 3rd quarter valued at $368,411,000. Norges Bank bought a new stake in Pinterest during the fourth quarter valued at $178,278,000. Deutsche Bank AG grew its holdings in Pinterest by 498.8% during the 4th quarter. Deutsche Bank AG now owns 5,328,364 shares of the company’s stock worth $193,686,000 after acquiring an additional 4,438,503 shares during the period. Alliancebernstein L.P. raised its position in shares of Pinterest by 909.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,222,151 shares of the company’s stock worth $153,475,000 after acquiring an additional 3,803,813 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Pinterest by 12.0% in the 3rd quarter. Morgan Stanley now owns 32,744,169 shares of the company’s stock valued at $1,668,314,000 after purchasing an additional 3,509,012 shares during the period.
Pinterest Company Profile
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.