Monness Crespi & Hardt Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target dropped by research analysts at Monness Crespi & Hardt from $50.00 to $40.00 in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Monness Crespi & Hardt’s price objective suggests a potential upside of 36.85% from the stock’s current price.

A number of other brokerages have also recently issued reports on PINS. Benchmark reduced their target price on Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Oppenheimer boosted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Bank of America cut their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their price target on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.27.

Pinterest Price Performance

Shares of Pinterest stock opened at $29.23 on Friday. The firm has a 50 day simple moving average of $28.84 and a 200 day simple moving average of $31.21. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The firm has a market cap of $19.82 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts expect that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This represents a 94.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now directly owns 26,786 shares of the company’s stock, valued at $723,222. This represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock worth $14,828,392. Company insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PINS. Leibman Financial Services Inc. grew its stake in Pinterest by 102.2% during the fourth quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock worth $1,862,000 after buying an additional 32,464 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Pinterest in the fourth quarter valued at approximately $4,289,000. Jones Financial Companies Lllp grew its position in Pinterest by 91.3% during the 4th quarter. Jones Financial Companies Lllp now owns 24,993 shares of the company’s stock worth $725,000 after acquiring an additional 11,925 shares during the last quarter. Swedbank AB grew its holdings in Pinterest by 2,108.7% during the 4th quarter. Swedbank AB now owns 1,315,052 shares of the company’s stock worth $38,137,000 after acquiring an additional 1,255,513 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Pinterest by 699.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 296,033 shares of the company’s stock worth $8,585,000 after purchasing an additional 259,002 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

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.