Pinterest (NYSE:PINS) Stock Gets Downgrade from Zacks Research

Pinterest (NYSE:PINS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports. Zacks Research also issued estimates for Pinterest’s FY2028 earnings at $1.04 EPS.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada increased their price target on Pinterest from $23.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Rosenblatt Securities lifted their price objective on Pinterest from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley boosted their price objective on Pinterest from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Pinterest in a report on Monday, June 22nd. Eighteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.90.

Pinterest Stock Down 2.7%

Pinterest stock opened at $21.76 on Tuesday. Pinterest has a twelve month low of $13.84 and a twelve month high of $35.42. The stock’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $20.89. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $12.19 billion, a P/E ratio of 64.00, a P/E/G ratio of 1.46 and a beta of 0.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, equities analysts expect that Pinterest will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Julia Donnelly sold 59,096 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $23.48, for a total value of $1,387,574.08. Following the transaction, the chief financial officer owned 817,409 shares of the company’s stock, valued at $19,192,763.32. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total value of $2,009,062.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 691,827 shares of company stock valued at $14,708,582. Insiders own 8.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Tempus Wealth Planning LLC grew its holdings in shares of Pinterest by 8.5% during the third quarter. Tempus Wealth Planning LLC now owns 22,818 shares of the company’s stock worth $431,000 after purchasing an additional 1,783 shares during the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Pinterest by 27.6% in the 3rd quarter. Seelaus Asset Management LLC now owns 26,829 shares of the company’s stock valued at $507,000 after purchasing an additional 5,807 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of Pinterest in the 3rd quarter valued at about $232,000. NorthCrest Asset Manangement LLC boosted its position in shares of Pinterest by 46.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 13,153 shares of the company’s stock valued at $270,000 after purchasing an additional 4,189 shares during the period. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of Pinterest in the 3rd quarter valued at about $4,901,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery and planning platform that helps people find, save and organize ideas for projects, interests and everyday activities. Users can collect images, videos and other content as “Pins” and arrange them on personalized or collaborative boards. The platform supports discovery across areas such as home design, food, fashion, travel, beauty and do-it-yourself projects.

Pinterest also provides tools for businesses and creators, including visual advertising, shopping features, product catalogs and analytics.