Pinterest (NYSE:PINS) had its price objective lowered by investment analysts at Rosenblatt Securities from $90.00 to $70.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Rosenblatt Securities' price objective suggests a potential upside of 9.87% from the stock's current price.
A number of other brokerages have also recently weighed in on PINS. Bank of America reissued a "neutral" rating and set a $78.00 price objective (down from $94.00) on shares of Pinterest in a research note on Monday, March 29th. Piper Sandler dropped their price objective on shares of Pinterest from $85.00 to $76.00 and set a "neutral" rating for the company in a research note on Wednesday, April 28th. Citigroup lifted their target price on shares of Pinterest from $65.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, February 12th. TheStreet cut shares of Pinterest from a "c-" rating to a "d+" rating in a research note on Wednesday, April 28th. Finally, Stifel Nicolaus assumed coverage on shares of Pinterest in a research note on Wednesday, January 20th. They issued a "buy" rating and a $85.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Pinterest presently has an average rating of "Buy" and an average price target of $78.34.
Shares of PINS opened at $63.71 on Tuesday. The firm has a 50 day simple moving average of $75.01 and a 200-day simple moving average of $70.59. Pinterest has a 1-year low of $15.82 and a 1-year high of $89.90. The stock has a market cap of $40.04 billion, a price-to-earnings ratio of -99.55 and a beta of 1.40.
Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, topping the Zacks' consensus estimate of ($0.08) by $0.19. Pinterest had a negative net margin of 26.81% and a negative return on equity of 14.42%. The business had revenue of $485.23 million during the quarter, compared to analysts' expectations of $471.49 million. During the same period last year, the company posted ($0.10) EPS. The company's revenue was up 78.4% on a year-over-year basis. On average, equities analysts expect that Pinterest will post -0.41 earnings per share for the current year.
In related news, CAO Tseli Lily Yang sold 2,440 shares of Pinterest stock in a transaction on Monday, March 1st. The shares were sold at an average price of $82.50, for a total transaction of $201,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin Silbermann sold 57,200 shares of Pinterest stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $72.12, for a total transaction of $4,125,264.00. Following the transaction, the chief executive officer now owns 57,200 shares in the company, valued at approximately $4,125,264. The disclosure for this sale can be found here. Insiders have sold a total of 827,687 shares of company stock valued at $63,867,719 over the last three months.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Pinterest by 17.2% in the 4th quarter. BlackRock Inc. now owns 27,766,081 shares of the company's stock worth $1,829,785,000 after buying an additional 4,073,553 shares in the last quarter. Morgan Stanley lifted its holdings in Pinterest by 261.7% in the 4th quarter. Morgan Stanley now owns 20,554,319 shares of the company's stock worth $1,354,531,000 after buying an additional 14,872,010 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Pinterest by 25.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 4,055,418 shares of the company's stock worth $267,253,000 after buying an additional 810,684 shares in the last quarter. Norges Bank acquired a new position in Pinterest in the 4th quarter worth $233,189,000. Finally, Renaissance Technologies LLC acquired a new position in Pinterest in the 4th quarter worth $212,732,000. Hedge funds and other institutional investors own 58.21% of the company's stock.
Pinterest, Inc provides 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. It shows them visual recommendations based on people personal taste and interests.
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