Pinterest (NYSE:PINS) Stock Rating Lowered by TheStreet

Pinterest (NYSE:PINS – Get Rating) was downgraded by stock analysts at TheStreet from a “c” rating to a “d+” rating in a research report issued on Tuesday, TheStreetRatingsTable reports.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada dropped their price target on Pinterest from $51.00 to $34.00 and set a “sector perform” rating for the company in a research note on Friday, February 4th. KeyCorp dropped their price target on Pinterest from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. Susquehanna dropped their price target on Pinterest from $32.00 to $22.00 in a research note on Thursday, April 28th. Morgan Stanley dropped their price target on Pinterest from $28.00 to $21.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Zacks Investment Research raised Pinterest from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a research report on Tuesday, April 12th. Twenty-one research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Hold” and a consensus target price of $35.80.

Pinterest stock opened at $18.93 on Tuesday. The firm has a market capitalization of $12.56 billion, a P/E ratio of 39.44, a PEG ratio of 3.51 and a beta of 1.25. The stock has a fifty day moving average price of $22.18 and a 200 day moving average price of $28.53. Pinterest has a 52 week low of $16.14 and a 52 week high of $81.77.

Pinterest (NYSE:PINS – Get Rating) last released its earnings results on Wednesday, April 27th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.11. The firm had revenue of $574.89 million during the quarter, compared to analyst estimates of $568.27 million. Pinterest had a return on equity of 12.69% and a net margin of 12.48%. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, equities research analysts forecast that Pinterest will post 0.38 EPS for the current fiscal year.

In other Pinterest news, SVP Naveen Gavini sold 5,491 shares of Pinterest stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $23.16, for a total value of $127,171.56. Following the completion of the transaction, the senior vice president now directly owns 535,042 shares in the company, valued at $12,391,572.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Benjamin Silbermann sold 59,154 shares of Pinterest stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $20.58, for a total value of $1,217,389.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 358,339 shares of company stock valued at $8,200,218. 7.58% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Harris Associates L P boosted its position in shares of Pinterest by 19,142.5% during the first quarter. Harris Associates L P now owns 18,558,778 shares of the company’s stock worth $456,731,000 after buying an additional 18,462,331 shares during the period. Renaissance Technologies LLC boosted its position in shares of Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after buying an additional 8,341,222 shares during the period. Viking Global Investors LP acquired a new position in shares of Pinterest during the third quarter worth approximately $368,411,000. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter worth approximately $178,278,000. Finally, Deutsche Bank AG boosted its position in shares of Pinterest by 498.8% during the fourth quarter. Deutsche Bank AG now owns 5,328,364 shares of the company’s stock worth $193,686,000 after buying an additional 4,438,503 shares during the period. Institutional investors and hedge funds own 63.76% of the company’s stock.

About Pinterest (Get Rating)

Pinterest, Inc operates as a 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; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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