Wells Fargo & Company Begins Coverage on Pinterest (NYSE:PINS)

Key Points

• Wells Fargo initiated coverage on Pinterest with an "overweight" rating and a $25.00 price target, implying roughly a 36.8% upside from the prior close.
• Pins is trading near $18.27 (market cap ~$12.15B) after a quarter that slightly missed EPS ($0.67 vs $0.68) and revenue ($1.32B vs $1.33B) but showed 14.3% revenue growth YoY, while analysts remain mixed with a consensus rating of Hold and a $25.42 average target.

Investment analysts at Wells Fargo & Company started coverage on shares of Pinterest (NYSE:PINS - Get Free Report) in a research note issued on Tuesday. The firm set an "overweight" rating and a $25.00 price target on the stock. Wells Fargo & Company's price objective points to a potential upside of 36.84% from the company's previous close.

A number of other research firms have also issued reports on PINS. Barclays dropped their target price on shares of Pinterest from $36.00 to $25.00 and set an "equal weight" rating for the company in a report on Friday, February 13th. Wall Street Zen raised shares of Pinterest from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Loop Capital lowered shares of Pinterest from a "buy" rating to a "hold" rating and dropped their target price for the stock from $45.00 to $18.00 in a report on Friday, February 13th. Mizuho set a $35.00 target price on shares of Pinterest in a report on Tuesday, February 3rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $20.00 target price on shares of Pinterest in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $25.42.

Pinterest Stock Performance

Shares of NYSE PINS opened at $18.27 on Tuesday. The firm has a market cap of $12.15 billion, a PE ratio of 29.95, a PEG ratio of 1.19 and a beta of 0.88. The firm has a fifty day moving average of $18.76 and a 200 day moving average of $25.20. Pinterest has a one year low of $13.84 and a one year high of $39.93.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.Pinterest's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. On average, equities analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider owned 695,187 shares of the company's stock, valued at approximately $15,335,825.22. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PINS. Revolve Wealth Partners LLC acquired a new position in shares of Pinterest during the 4th quarter valued at about $252,000. Integrated Wealth Concepts LLC boosted its position in shares of Pinterest by 5.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company's stock valued at $339,000 after acquiring an additional 607 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Pinterest by 45.6% during the 1st quarter. Empowered Funds LLC now owns 15,168 shares of the company's stock valued at $470,000 after acquiring an additional 4,748 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Pinterest by 39.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company's stock valued at $335,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in shares of Pinterest during the 2nd quarter valued at about $269,000. Institutional investors and hedge funds own 88.81% of the company's stock.

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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