Pinterest, Inc. (NYSE:PINS) Given Average Rating of "Buy" by Brokerages

Saturday, June 5, 2021 | MarketBeat

Shares of Pinterest, Inc. (NYSE:PINS) have been given an average rating of "Buy" by the thirty-three analysts that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $80.58.

PINS has been the topic of several research analyst reports. KeyCorp dropped their price objective on shares of Pinterest from $92.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 28th. TheStreet downgraded shares of Pinterest from a "c-" rating to a "d+" rating in a research note on Wednesday, April 28th. Susquehanna upped their price target on shares of Pinterest from $67.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, February 5th. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $102.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Pinterest from $75.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, February 5th.

In related news, CAO Tseli Lily Yang sold 11,283 shares of the firm's stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $70.81, for a total value of $798,949.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Evan Sharp sold 69,198 shares of the firm's stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $71.76, for a total transaction of $4,965,648.48. Following the completion of the transaction, the insider now owns 69,198 shares of the company's stock, valued at approximately $4,965,648.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 797,592 shares of company stock worth $55,215,594. 8.45% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nwam LLC bought a new position in Pinterest during the 1st quarter worth approximately $6,151,000. Parallel Advisors LLC raised its holdings in Pinterest by 163.7% during the 4th quarter. Parallel Advisors LLC now owns 3,829 shares of the company's stock worth $252,000 after purchasing an additional 2,377 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in Pinterest during the 1st quarter worth approximately $1,407,000. Nkcfo LLC bought a new position in Pinterest during the 1st quarter worth approximately $74,000. Finally, Envestnet Asset Management Inc. raised its holdings in Pinterest by 113.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 67,370 shares of the company's stock worth $4,987,000 after purchasing an additional 35,737 shares during the last quarter. Institutional investors and hedge funds own 61.09% of the company's stock.

Shares of PINS opened at $62.89 on Friday. The company has a market capitalization of $40.05 billion, a price-to-earnings ratio of -1,048.17 and a beta of 1.24. The company has a 50-day moving average of $68.99. Pinterest has a fifty-two week low of $20.07 and a fifty-two week high of $89.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.08) by $0.19. The company had revenue of $485.23 million for the quarter, compared to analyst estimates of $471.49 million. Pinterest had a negative net margin of 0.46% and a positive return on equity of 4.86%. The company's revenue was up 78.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Pinterest will post 0.09 earnings per share for the current fiscal year.

Pinterest Company Profile

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.

Read More: Why do earnings reports matter?

Analyst Recommendations for Pinterest (NYSE:PINS)

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