Pinterest (NASDAQ:PINS) Lowered to Sell at Zacks Investment Research

Pinterest (NASDAQ:PINS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Pinterest Inc. provides a visual discovery engine. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions and planning a wedding or a dream vacation. The company also provides Product Pins which make items shoppable with up-to-date pricing; Recipe Pins to cook a meal by bringing the relevant information; and Shop the Look, which enables pinners to shop for the individual products. Pinterest Inc. is based in San Francisco, California. “

PINS has been the subject of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of Vermilion Energy from C$42.00 to C$43.00 in a research report on Monday, May 13th. Credit Suisse Group dropped their target price on shares of Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Rosenblatt Securities began coverage on shares of Pinterest in a research report on Wednesday, May 8th. They issued a “neutral” rating and a $32.00 target price for the company. Royal Bank of Canada boosted their target price on shares of NVIDIA to $200.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Finally, Robert W. Baird began coverage on shares of TJX Companies in a research report on Monday, May 13th. They issued an “outperform” rating and a $63.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $29.94.



PINS opened at $25.56 on Friday. The business has a 50-day moving average of $26.79. Pinterest has a 1-year low of $23.05 and a 1-year high of $35.29.

Pinterest (NASDAQ:PINS) last released its earnings results on Thursday, May 16th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.21). The firm had revenue of $201.90 million for the quarter, compared to the consensus estimate of $200.64 million. The firm’s quarterly revenue was up 54.1% on a year-over-year basis.

In other Pinterest news, Director Fredric G. Reynolds acquired 40,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was acquired at an average price of $27.04 per share, with a total value of $1,081,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several large investors have recently made changes to their positions in PINS. Zweig DiMenna Associates LLC purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $4,536,000. Legacy Advisors LLC purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $271,000. Quad Cities Investment Group LLC purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $27,000. Moors & Cabot Inc. purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $222,000. Finally, Meridian Wealth Management LLC purchased a new position in shares of Pinterest during the 2nd quarter worth approximately $313,000.

About Pinterest

There is no company description available for Pinterest Inc

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