Pinterest (NYSE:PINS – Get Rating) had its price target raised by Piper Sandler from $22.00 to $23.00 in a report issued on Monday, The Fly reports.
A number of other research analysts also recently commented on the company. Susquehanna Bancshares upgraded Pinterest to a positive rating and increased their price objective for the company from $22.00 to $35.00 in a report on Tuesday, August 2nd. TheStreet upgraded Pinterest from a d+ rating to a c- rating in a report on Tuesday, August 16th. Credit Suisse Group decreased their target price on Pinterest from $31.00 to $26.00 and set a neutral rating for the company in a research report on Tuesday, July 19th. Evercore ISI upped their target price on Pinterest from $24.00 to $28.00 and gave the company an in-line rating in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Pinterest from $32.00 to $26.00 and set a neutral rating for the company in a research report on Wednesday, June 29th. Seventeen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $29.12.
Get
Pinterest alerts:
Pinterest Price Performance
Shares of NYSE PINS opened at $23.70 on Monday. The stock's 50-day moving average is $22.64 and its two-hundred day moving average is $21.75. Pinterest has a 1-year low of $16.14 and a 1-year high of $66.00. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 76.45 and a beta of 1.00.
Pinterest (NYSE:PINS – Get Rating) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.11). Pinterest had a net
margin of 8.10% and a return on equity of 8.35%. The business had revenue of $666.00 million during the quarter, compared to analysts' expectations of $663.19 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company's revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Pinterest will post -0.15 earnings per share for the current fiscal year.
Insider Activity at Pinterest
In related news, SVP Naveen Gavini sold 4,756 shares of the firm's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.01, for a total value of $95,167.56. Following the completion of the transaction, the senior vice president now directly owns 501,653 shares of the company's stock, valued at approximately $10,038,076.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Naveen Gavini sold 4,756 shares of the firm's stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.01, for a total value of $95,167.56. Following the completion of the transaction, the senior vice president now directly owns 501,653 shares of the company's stock, valued at approximately $10,038,076.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Ready purchased 222,551 shares of the company's stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $22.47 per share, with a total value of $5,000,720.97. Following the transaction, the chief executive officer now directly owns 222,551 shares of the company's stock, valued at approximately $5,000,720.97. The disclosure for this purchase can be found here. Insiders sold 124,750 shares of company stock valued at $3,111,454 in the last ninety days. Corporate insiders own 7.58% of the company's stock.
Hedge Funds Weigh In On Pinterest
Several hedge funds have recently bought and sold shares of the stock. Royal London Asset Management Ltd. increased its position in Pinterest by 14.2% during the second quarter. Royal London Asset Management Ltd. now owns 229,980 shares of the company's stock worth $4,175,000 after buying an additional 28,578 shares in the last quarter. Verition Fund Management LLC increased its position in Pinterest by 41.5% during the second quarter. Verition Fund Management LLC now owns 23,461 shares of the company's stock worth $426,000 after buying an additional 6,884 shares in the last quarter. Prelude Capital Management LLC increased its position in Pinterest by 40.2% during the second quarter. Prelude Capital Management LLC now owns 130,862 shares of the company's stock worth $2,376,000 after buying an additional 37,518 shares in the last quarter. Legal & General Group Plc increased its position in Pinterest by 22.4% during the second quarter. Legal & General Group Plc now owns 4,260,031 shares of the company's stock worth $77,361,000 after buying an additional 780,503 shares in the last quarter. Finally, National Pension Service grew its position in shares of Pinterest by 14.6% in the second quarter. National Pension Service now owns 41,012 shares of the company's stock valued at $745,000 after purchasing an additional 5,229 shares during the period. Hedge funds and other institutional investors own 70.78% of the company's stock.
About Pinterest
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on Pinterest (PINS)
- Small-Cap Catalyst Pharma Is Among Market's Best Price Performers
- 3 Stocks Growing Their Businesses for 2023
- China-Based EV Maker BYD Set For Big European, Japanese Expansion
- Is Illumina Still the Gamechanger in Genomics Sequencing?
- Here's What Makes Amazon a Sum-of-All-Parts Commerce Juggernaut
Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.
