Pinterest (NYSE:PINS) Given Average Rating of “Hold” by Brokerages

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Shares of Pinterest (NYSE:PINS) have been given a consensus recommendation of “Hold” by the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $28.73.

PINS has been the subject of several recent research reports. Royal Bank of Canada dropped their price target on shares of Pinterest from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Robert W. Baird dropped their price target on shares of Pinterest from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. MKM Partners dropped their price target on shares of Pinterest from $29.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Barclays dropped their price target on shares of Pinterest from $30.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, August 15th.

In other news, General Counsel Christine Flores sold 9,375 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $20.65, for a total transaction of $193,593.75. Following the completion of the sale, the general counsel now owns 9,375 shares of the company’s stock, valued at $193,593.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Benjamin Silbermann sold 66,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $19.84, for a total transaction of $1,319,360.00. Following the sale, the chief executive officer now directly owns 66,500 shares in the company, valued at $1,319,360. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 416,416 shares of company stock valued at $8,254,042.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Pinterest during the third quarter valued at approximately $509,000. Empirical Capital Management LLC bought a new stake in shares of Pinterest during the third quarter valued at approximately $4,787,000. Virtu Financial LLC bought a new stake in shares of Pinterest during the third quarter valued at approximately $463,000. Weaver Consulting Group bought a new stake in shares of Pinterest during the third quarter valued at approximately $31,000. Finally, State Street Corp grew its stake in shares of Pinterest by 42.3% during the third quarter. State Street Corp now owns 92,605 shares of the company’s stock valued at $2,449,000 after purchasing an additional 27,505 shares during the last quarter. 21.66% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PINS traded down $0.22 during mid-day trading on Tuesday, hitting $17.99. The company’s stock had a trading volume of 8,826,507 shares, compared to its average volume of 7,502,800. Pinterest has a fifty-two week low of $17.65 and a fifty-two week high of $36.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 13.75 and a current ratio of 13.75. The stock has a fifty day moving average of $20.93 and a 200-day moving average of $26.68.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.16. The business had revenue of $279.70 million during the quarter, compared to analyst estimates of $282.09 million. Pinterest’s revenue was up 47.1% compared to the same quarter last year. Research analysts anticipate that Pinterest will post -3.38 earnings per share for the current fiscal year.

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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