Barclays Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price cut by analysts at Barclays from $42.00 to $38.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 30.00% from the stock’s previous close.

PINS has been the topic of several other reports. Stifel Nicolaus reduced their target price on Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley cut their price objective on Pinterest from $42.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $34.00 to $47.00 in a research note on Friday, February 7th. Wells Fargo & Company cut their price target on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Finally, Piper Sandler lowered their price objective on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $40.27.

Pinterest Trading Up 4.9 %

Pinterest stock opened at $29.23 on Friday. The firm has a market capitalization of $19.82 billion, a P/E ratio of 10.87, a PEG ratio of 1.95 and a beta of 0.83. The business has a 50-day moving average of $28.84 and a 200-day moving average of $31.21. Pinterest has a 1 year low of $23.68 and a 1 year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Research analysts anticipate that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at $8,350,831.35. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock valued at $14,828,392 over the last 90 days. 7.06% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Pinterest by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after buying an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. FMR LLC grew its position in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after purchasing an additional 316,633 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Pinterest during the fourth quarter worth approximately $358,205,000. 88.81% of the stock is currently owned by institutional investors.

Pinterest Company Profile

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.