Pinterest (NYSE:PINS) Price Target Cut to $40.00 by Analysts at BMO Capital Markets

Pinterest (NYSE:PINS) had its target price cut by BMO Capital Markets from $46.00 to $40.00 in a research report report published on Friday morning, Marketbeat reports. They currently have an outperform rating on the stock.

A number of other research firms also recently weighed in on PINS. Morgan Stanley upped their target price on Pinterest from $28.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays dropped their price target on Pinterest from $42.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Guggenheim decreased their price objective on Pinterest from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday. Finally, Cantor Fitzgerald raised their price objective on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.27.

Pinterest Stock Up 4.9%

Shares of PINS stock opened at $29.23 on Friday. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.95 and a beta of 0.83. The stock has a fifty day moving average of $28.84 and a 200 day moving average of $31.20. Pinterest has a 52 week low of $23.68 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the sale, the director now owns 26,786 shares in the company, valued at approximately $723,222. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 453,836 shares of company stock worth $14,828,392. Corporate insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest during the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new stake in Pinterest in the first quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in Pinterest in the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. Finally, NBC Securities Inc. raised its stake in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after buying an additional 999 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.