Roth Mkm Cuts Pinterest (NYSE:PINS) Price Target to $39.00

Pinterest (NYSE:PINS) had its price target cut by Roth Mkm from $40.00 to $39.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on PINS. Rosenblatt Securities reissued a buy rating and set a $48.00 price objective on shares of Pinterest in a report on Wednesday. Sanford C. Bernstein boosted their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on shares of Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Loop Capital lifted their price objective on shares of Pinterest from $43.00 to $49.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, Susquehanna reduced their target price on Pinterest from $50.00 to $45.00 and set a positive rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $42.71.

Pinterest Price Performance

NYSE PINS opened at $29.10 on Wednesday. The company’s 50 day simple moving average is $41.47 and its two-hundred day simple moving average is $38.39. Pinterest has a 1 year low of $23.59 and a 1 year high of $45.19. The stock has a market capitalization of $19.88 billion, a PE ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, research analysts anticipate that Pinterest will post 0.44 EPS for the current year.

Insider Activity

In related news, CAO Andrea Acosta sold 2,564 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at $8,410,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,250 shares of company stock valued at $2,191,304. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in PINS. International Assets Investment Management LLC grew its position in shares of Pinterest by 3,402.0% in the 4th quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after buying an additional 77,974 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the period. Corient Private Wealth LLC grew its holdings in Pinterest by 56.7% in the fourth quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Pinterest by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 447,148 shares of the company’s stock valued at $15,598,000 after purchasing an additional 51,455 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its holdings in shares of Pinterest by 300.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 1,722,412 shares of the company’s stock valued at $63,798,000 after purchasing an additional 1,291,854 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

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.