Pinterest (NYSE:PINS) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Pinterest (NYSE:PINS) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $27.00 price target on the stock.

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 reports. Susquehanna Bancshares lowered their target price on Pinterest from $36.00 to $22.00 and set a neutral rating for the company in a research note on Friday, November 1st. UBS Group set a $28.00 target price on Pinterest and gave the company a hold rating in a research note on Friday, November 1st. Citigroup lowered their target price on Pinterest from $31.00 to $30.00 and set a buy rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on Pinterest from $34.00 to $23.00 and set a neutral rating for the company in a research note on Friday, November 1st. Finally, Robert W. Baird lowered their target price on Pinterest from $37.00 to $30.00 and set a buy rating for the company in a research note on Friday, November 1st. Thirteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $28.88.

Shares of Pinterest stock traded down $0.32 during trading hours on Thursday, hitting $23.22. 16,919,764 shares of the company’s stock traded hands, compared to its average volume of 16,145,844. The stock has a 50 day simple moving average of $21.37 and a 200-day simple moving average of $24.75. The company has a quick ratio of 13.75, a current ratio of 13.75 and a debt-to-equity ratio of 0.08. The company has a market cap of $13.18 billion and a PE ratio of -7.17. Pinterest has a twelve month low of $17.39 and a twelve month high of $36.83.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $399.90 million during the quarter, compared to the consensus estimate of $368.93 million. Pinterest had a negative return on equity of 120.14% and a negative net margin of 119.13%. The firm’s quarterly revenue was up 46.4% compared to the same quarter last year. As a group, equities research analysts predict that Pinterest will post -0.83 EPS for the current year.

In related news, CEO Benjamin Silbermann sold 66,500 shares of Pinterest stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $23.83, for a total value of $1,584,695.00. Following the completion of the transaction, the chief executive officer now directly owns 66,500 shares in the company, valued at $1,584,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Evan Sharp sold 62,500 shares of Pinterest stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $24.98, for a total value of $1,561,250.00. Following the completion of the transaction, the insider now owns 62,500 shares of the company’s stock, valued at $1,561,250. The disclosure for this sale can be found here. Insiders sold 498,323 shares of company stock valued at $10,679,979 over the last quarter.

A number of large investors have recently bought and sold shares of PINS. FMR LLC boosted its stake in Pinterest by 9,401.2% in the fourth quarter. FMR LLC now owns 21,835,568 shares of the company’s stock valued at $407,015,000 after acquiring an additional 21,605,750 shares during the period. FirstMark Capital I GP LLC acquired a new position in Pinterest in the fourth quarter valued at approximately $175,509,000. Fred Alger Management LLC boosted its stake in Pinterest by 141.5% in the fourth quarter. Fred Alger Management LLC now owns 4,753,378 shares of the company’s stock valued at $88,603,000 after acquiring an additional 2,785,317 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Pinterest by 7,159.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,473,172 shares of the company’s stock valued at $83,380,000 after acquiring an additional 4,411,553 shares during the period. Finally, First Trust Advisors LP boosted its stake in Pinterest by 2,709.8% in the fourth quarter. First Trust Advisors LP now owns 3,747,165 shares of the company’s stock valued at $69,847,000 after acquiring an additional 3,613,805 shares during the period. Institutional investors and hedge funds own 22.44% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. 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.

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