Pinterest (NYSE:PINS) Price Target Cut to $70.00

Pinterest (NYSE:PINS) had its price objective cut by research analysts at Rosenblatt Securities from $90.00 to $70.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 9.87% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Pinterest from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Stifel Nicolaus assumed coverage on shares of Pinterest in a report on Wednesday, January 20th. They issued a “buy” rating and a $85.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Pinterest from $86.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Susquehanna lifted their target price on shares of Pinterest from $67.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 5th. Finally, Bank of America reiterated a “neutral” rating and issued a $78.00 target price (down previously from $94.00) on shares of Pinterest in a report on Monday, March 29th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Pinterest has a consensus rating of “Buy” and an average target price of $78.34.

Shares of NYSE:PINS opened at $63.71 on Tuesday. The firm has a fifty day moving average of $75.01 and a two-hundred day moving average of $70.59. The firm has a market capitalization of $40.04 billion, a P/E ratio of -99.55 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 released its quarterly earnings results on Tuesday, April 27th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.19. The business had revenue of $485.23 million for the quarter, compared to the consensus estimate of $471.49 million. Pinterest had a negative net margin of 26.81% and a negative return on equity of 14.42%. Pinterest’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. Sell-side analysts expect that Pinterest will post -0.41 earnings per share for the current year.

In other Pinterest news, Director Jeremy S. Levine sold 15,987 shares of the business’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $85.43, for a total value of $1,365,769.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Tseli Lily Yang sold 2,440 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $82.50, for a total transaction of $201,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 827,687 shares of company stock worth $63,867,719.

Large investors have recently added to or reduced their stakes in the business. Nwam LLC acquired a new position in Pinterest in the first quarter valued at about $6,151,000. Parallel Advisors LLC raised its stake in shares of Pinterest by 163.7% in the fourth quarter. Parallel Advisors LLC now owns 3,829 shares of the company’s stock worth $252,000 after acquiring an additional 2,377 shares during the last quarter. Aurora Investment Managers LLC. raised its stake in shares of Pinterest by 22.0% in the fourth quarter. Aurora Investment Managers LLC. now owns 34,964 shares of the company’s stock worth $2,304,000 after acquiring an additional 6,309 shares during the last quarter. Falcon Point Capital LLC bought a new position in shares of Pinterest in the fourth quarter worth about $224,000. Finally, Avitas Wealth Management LLC raised its stake in shares of Pinterest by 26.9% in the fourth quarter. Avitas Wealth Management LLC now owns 25,613 shares of the company’s stock worth $1,688,000 after acquiring an additional 5,424 shares during the last quarter. Hedge funds and other institutional investors 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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