Pinterest (NYSE:PINS) Receives Average Rating of “Buy” from Brokerages

Pinterest (NYSE:PINS) has been given a consensus rating of “Buy” by the twenty-eight research firms that are presently covering the firm, Marketbeat Ratings reports. Fourteen research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.50.

Several research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Pinterest in a report on Thursday. They issued an “equal weight” rating and a $25.00 price target on the stock. Nomura dropped their price objective on shares of Pinterest from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Royal Bank of Canada reiterated a “buy” rating and set a $27.00 price objective on shares of Pinterest in a research note on Sunday, May 3rd. Rosenblatt Securities reiterated a “hold” rating and set a $14.00 price objective on shares of Pinterest in a research note on Wednesday, May 6th. Finally, Pivotal Research lifted their price objective on shares of Pinterest from $19.50 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th.

NYSE PINS traded down $0.97 during mid-day trading on Friday, hitting $21.61. The company’s stock had a trading volume of 44,588,759 shares, compared to its average volume of 12,899,888. Pinterest has a 52-week low of $10.10 and a 52-week high of $36.83. The stock’s fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $19.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 11.60 and a quick ratio of 11.60. The firm has a market capitalization of $13.24 billion, a P/E ratio of -6.84 and a beta of 1.54.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Pinterest had a negative net margin of 120.48% and a negative return on equity of 73.06%. The business had revenue of $271.94 million during the quarter, compared to analysts’ expectations of $270.69 million. During the same quarter in the previous year, the business posted ($0.32) EPS. The company’s quarterly revenue was up 34.7% on a year-over-year basis. On average, equities analysts forecast that Pinterest will post -0.76 earnings per share for the current fiscal year.

In related news, CAO Tseli Lily Yang sold 1,448 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.60, for a total transaction of $26,932.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Benjamin Silbermann sold 66,500 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $21.43, for a total transaction of $1,425,095.00. Following the sale, the chief executive officer now owns 66,500 shares in the company, valued at approximately $1,425,095. The disclosure for this sale can be found here. In the last 90 days, insiders sold 669,404 shares of company stock worth $13,920,030.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Column Capital Advisors LLC bought a new stake in shares of Pinterest during the first quarter valued at approximately $31,000. Credit Agricole S A bought a new stake in shares of Pinterest during the first quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Pinterest by 137.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,900 shares of the company’s stock valued at $35,000 after buying an additional 1,100 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of Pinterest during the first quarter valued at approximately $37,000. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Pinterest by 125.0% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,700 shares of the company’s stock valued at $42,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 46.23% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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