Pinterest (NYSE:PINS) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Pinterest from “Buy” to “Hold.” Across analysts, the stock has an average “Hold” rating and a consensus price target of $27.69.
• Pinterest shares opened at $24.11, with a market capitalization of approximately $13.5 billion and a 52-week range of $13.84 to $39.93.
• The company exceeded quarterly expectations, reporting $0.27 in EPS versus a $0.22 estimate and revenue of $1.01 billion, up 17.8% year over year. Insiders sold about $7.9 million worth of shares during the last quarter.

Pinterest (NYSE:PINS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

PINS has been the topic of several other research reports. Stifel Nicolaus lifted their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Benchmark cut their price objective on Pinterest from $34.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Rothschild & Co Redburn set a $23.00 price objective on Pinterest and gave the stock a "neutral" rating in a research note on Monday, April 27th. BMO Capital Markets restated an "outperform" rating and issued a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Finally, Guggenheim reaffirmed a "buy" rating and set a $24.00 target price on shares of Pinterest in a research report on Monday, June 15th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pinterest has an average rating of "Hold" and a consensus target price of $27.69.

Pinterest Price Performance

Shares of Pinterest stock opened at $24.11 on Friday. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The company's 50-day moving average price is $21.70 and its two-hundred day moving average price is $20.58. Pinterest has a 52 week low of $13.84 and a 52 week high of $39.93. The stock has a market cap of $13.50 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89.

Pinterest (NYSE:PINS - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $965.84 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business's revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinterest will post 0.65 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the transaction, the insider directly owned 724,673 shares of the company's stock, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total transaction of $1,056,562.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 370,720 shares of company stock worth $7,892,627 in the last quarter. 8.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Elevated Capital Advisors LLC acquired a new stake in Pinterest during the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd increased its position in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company's stock worth $29,000 after purchasing an additional 1,049 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Pinterest by 727.3% during the 4th quarter. Addison Advisors LLC now owns 1,365 shares of the company's stock worth $35,000 after purchasing an additional 1,200 shares in the last quarter. Garner Asset Management Corp purchased a new stake in shares of Pinterest during the 4th quarter worth about $36,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Pinterest during the 1st quarter valued at about $43,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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