Pinterest (NYSE:PINS) Earns Neutral Rating from Analysts at Wedbush

Wedbush initiated coverage on shares of Pinterest (NYSE:PINS) in a report released on Thursday morning, Marketbeat reports. The firm issued a neutral rating and a $24.00 price objective on the stock.

PINS has been the topic of a number of other research reports. Benchmark decreased their target price on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Pinterest from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Guggenheim reissued a “buy” rating and issued a $24.00 price objective on shares of Pinterest in a research report on Monday, June 15th. UBS Group raised their price target on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird lifted their price objective on Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.66.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $23.17 on Thursday. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 48.26, a PEG ratio of 1.31 and a beta of 0.89. Pinterest has a 12 month low of $13.84 and a 12 month high of $39.93. The firm’s 50-day moving average is $20.93 and its 200 day moving average is $20.80. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts predict that Pinterest will post 0.65 EPS for the current year.

Insider Activity

In other news, insider Wanjiku Juanita Walcott sold 27,337 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $22.63, for a total transaction of $1,060,781.25. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,845 shares of company stock worth $6,836,065 in the last quarter. 8.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock valued at $1,606,632,000 after purchasing an additional 1,069,646 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Pinterest by 15.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock valued at $719,994,000 after buying an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. increased its position in Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after buying an additional 6,258,628 shares in the last quarter. State Street Corp raised its stake in Pinterest by 52.6% in the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after buying an additional 7,412,213 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Pinterest by 15.0% in the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after buying an additional 2,319,964 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.