Raymond James Trims Pinterest (NYSE:PINS) Target Price to $40.00

Pinterest (NYSE:PINS) had its target price cut by Raymond James from $45.00 to $40.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the company. Wolfe Research assumed coverage on Pinterest in a research note on Tuesday, July 16th. They issued a peer perform rating for the company. KeyCorp decreased their target price on Pinterest from $45.00 to $43.00 and set an overweight rating for the company in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research report on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Pinterest from $49.00 to $41.00 and set an overweight rating for the company in a research report on Wednesday. Finally, Wedbush reduced their price objective on Pinterest from $46.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of Moderate Buy and an average price target of $42.71.

Pinterest Stock Down 6.9 %

Shares of Pinterest stock opened at $29.10 on Wednesday. The firm has a market cap of $19.88 billion, a P/E ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19. The business has a 50-day moving average price of $41.47 and a 200 day moving average price of $38.39.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Pinterest will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares in the company, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,250 shares of company stock valued at $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Pinterest by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock valued at $1,988,110,000 after purchasing an additional 994,848 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Pinterest by 9.5% during the 2nd quarter. Baillie Gifford & Co. now owns 10,116,139 shares of the company’s stock valued at $445,818,000 after acquiring an additional 880,398 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares in the last quarter. Capital World Investors grew its holdings in shares of Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Pinterest by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,179,741 shares of the company’s stock valued at $283,592,000 after acquiring an additional 176,540 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.