Pinterest (NYSE:PINS) Research Coverage Started at Evercore ISI

Evercore ISI initiated coverage on shares of Pinterest (NYSE:PINS) in a research note published on Monday morning, The Fly reports. The firm issued an outperform rating and a $97.00 target price on the stock.

Several other research analysts have also recently commented on PINS. Sanford C. Bernstein raised their target price on shares of Pinterest from $75.00 to $85.00 and gave the stock a market perform rating in a report on Friday, February 5th. Robert W. Baird raised their target price on shares of Pinterest from $68.00 to $80.00 in a report on Friday, January 8th. KeyCorp raised their target price on shares of Pinterest from $86.00 to $92.00 and gave the stock an overweight rating in a report on Friday, February 5th. Loop Capital raised their target price on shares of Pinterest from $80.00 to $105.00 in a report on Tuesday, February 16th. Finally, Bank of America reaffirmed a neutral rating and set a $78.00 target price (down from $94.00) on shares of Pinterest in a report on Monday, March 29th. Eleven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Pinterest currently has a consensus rating of Buy and a consensus target price of $76.86.

Shares of PINS stock opened at $83.80 on Monday. The firm has a 50 day moving average price of $75.46 and a two-hundred day moving average price of $66.08. The company has a market capitalization of $52.67 billion, a PE ratio of -130.94 and a beta of 1.40. Pinterest has a 12-month low of $15.82 and a 12-month high of $89.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.47. The firm had revenue of $705.62 million during the quarter, compared to the consensus estimate of $645.75 million. Pinterest had a negative net margin of 26.81% and a negative return on equity of 14.42%. Research analysts forecast that Pinterest will post -0.41 earnings per share for the current fiscal year.

In related news, CEO Benjamin Silbermann sold 105,000 shares of the business’s stock in a transaction on Tuesday, January 12th. The shares were sold at an average price of $73.52, for a total value of $7,719,600.00. Following the transaction, the chief executive officer now owns 105,000 shares in the company, valued at $7,719,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey D. Jordan sold 16,000 shares of the business’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $70.31, for a total transaction of $1,124,960.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,002,667 shares of company stock worth $75,881,056.

A number of hedge funds have recently added to or reduced their stakes in PINS. Morgan Stanley lifted its holdings in Pinterest by 261.7% in the fourth quarter. Morgan Stanley now owns 20,554,319 shares of the company’s stock valued at $1,354,531,000 after buying an additional 14,872,010 shares during the period. BlackRock Inc. raised its holdings in shares of Pinterest by 17.2% during the fourth quarter. BlackRock Inc. now owns 27,766,081 shares of the company’s stock valued at $1,829,785,000 after purchasing an additional 4,073,553 shares during the period. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter valued at about $233,189,000. Renaissance Technologies LLC acquired a new position in shares of Pinterest during the fourth quarter valued at about $212,732,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Pinterest by 148.3% during the third quarter. Nuveen Asset Management LLC now owns 2,539,967 shares of the company’s stock valued at $105,434,000 after purchasing an additional 1,516,821 shares during the period. Institutional investors and hedge funds own 58.21% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others. It shows them visual recommendations based on people personal taste and interests.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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