Pinterest’s (NASDAQ:PINS) quiet period is set to end on Tuesday, May 28th. Pinterest had issued 75,000,000 shares in its IPO on April 18th. The total size of the offering was $1,425,000,000 based on an initial share price of $19.00. During Pinterest’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
PINS has been the subject of a number of research reports. Susquehanna Bancshares initiated coverage on shares of Pinterest in a report on Monday, May 6th. They issued a “neutral” rating and a $35.00 target price for the company. Bank of America initiated coverage on shares of Pinterest in a report on Monday, May 13th. They issued a “neutral” rating and a $32.00 target price for the company. UBS Group initiated coverage on shares of Pinterest in a report on Monday, May 13th. They issued a “neutral” rating and a $31.00 target price for the company. Barclays initiated coverage on shares of Pinterest in a report on Monday, May 13th. They issued an “equal weight” rating and a $28.00 target price for the company. Finally, DA Davidson increased their target price on shares of Pinterest to $23.00 and gave the stock an “average” rating in a report on Monday, May 20th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pinterest presently has an average rating of “Hold” and an average price target of $29.80.
Shares of NASDAQ PINS opened at $25.50 on Monday. Pinterest has a 1 year low of $23.05 and a 1 year high of $35.29.
In other Pinterest news, Director Fredric G. Reynolds acquired 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $27.04 per share, for a total transaction of $1,081,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
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Pinterest Company Profile
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