Pinterest (NYSE:PINS) Price Target Raised to $33.00

Pinterest (NYSE:PINS) had its price objective hoisted by UBS Group from $30.00 to $33.00 in a research report released on Wednesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on PINS. Citigroup upped their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen reissued a “buy” rating on shares of Pinterest in a research report on Monday, June 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $28.00 target price on shares of Pinterest in a research note on Tuesday, May 5th. Barclays boosted their target price on shares of Pinterest from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their target price on Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.90.

Pinterest Stock Up 1.7%

PINS stock opened at $23.73 on Wednesday. Pinterest has a one year low of $13.84 and a one year high of $38.57. The company has a fifty day moving average of $22.12 and a 200-day moving average of $20.48. The stock has a market capitalization of $13.29 billion, a PE ratio of 69.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 3.81.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, analysts expect that Pinterest will post 0.63 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Donnelly Julia Brau sold 59,096 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $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 accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $22.54, for a total value of $1,056,562.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 429,816 shares of company stock worth $9,280,201 in the last quarter. 8.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently made changes to their positions in PINS. Yousif Capital Management LLC grew its position in shares of Pinterest by 2,298.3% during the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after buying an additional 177,449 shares during the period. Forsta AP Fonden lifted its holdings in Pinterest by 61.2% during the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after acquiring an additional 150,900 shares in the last quarter. Amundi grew its position in shares of Pinterest by 38.3% in the 1st quarter. Amundi now owns 3,200,829 shares of the company’s stock valued at $58,703,000 after purchasing an additional 885,927 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Pinterest during the fourth quarter worth $12,812,000. Finally, KLP Kapitalforvaltning AS increased its holdings in Pinterest by 103.4% during the 4th quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock worth $21,709,000 after purchasing an additional 426,300 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Key Pinterest News

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.