Pinterest (NYSE:PINS) Price Target Cut to $43.00 by Analysts at KeyCorp

Pinterest (NYSE:PINS) had its price target lowered by KeyCorp from $45.00 to $43.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 37.64% from the company’s current price.

PINS has been the topic of a number of other reports. Benchmark reissued a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Sanford C. Bernstein boosted their price target on Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and issued a $46.00 target price on shares of Pinterest in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price target on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

Pinterest Price Performance

Shares of NYSE:PINS opened at $31.24 on Wednesday. The business’s 50-day moving average is $41.72 and its 200 day moving average is $38.44. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The firm has a market capitalization of $21.34 billion, a P/E ratio of 148.77, a P/E/G ratio of 3.12 and a beta of 0.97.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) earnings per share. On average, analysts expect that Pinterest will post 0.44 EPS for the current year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares in the company, valued at $1,255,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders have sold a total of 50,250 shares of company stock worth $2,191,304 over the last 90 days. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Pinterest in the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in shares of Pinterest by 157.7% in the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the last quarter. Rothschild Investment LLC purchased a new position in Pinterest during the second quarter worth approximately $35,000. Rakuten Securities Inc. purchased a new stake in Pinterest in the 4th quarter valued at $30,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Pinterest during the 2nd quarter worth $40,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

About Pinterest

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.