KeyCorp Raises Pinterest (NYSE:PINS) Price Target to $28.00

Pinterest (NYSE:PINSGet Rating) had its target price upped by KeyCorp from $24.00 to $28.00 in a research note released on Tuesday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

PINS has been the topic of a number of other reports. TheStreet cut shares of Pinterest from a c rating to a d+ rating in a research note on Tuesday, May 31st. Rosenblatt Securities started coverage on shares of Pinterest in a report on Tuesday, April 19th. They set a neutral rating and a $21.00 price objective on the stock. Barclays raised their price target on shares of Pinterest from $20.00 to $23.00 and gave the company an equal weight rating in a report on Tuesday. Piper Sandler lowered their price objective on shares of Pinterest from $23.00 to $22.00 and set a neutral rating for the company in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Pinterest from $21.00 to $18.00 and set an equal weight rating for the company in a research report on Tuesday, July 19th. Nineteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has an average rating of Hold and a consensus target price of $29.76.

Pinterest Price Performance

Shares of PINS opened at $22.53 on Tuesday. The stock has a market cap of $14.95 billion, a PE ratio of 72.68, a P/E/G ratio of 6.27 and a beta of 1.19. The firm has a 50-day simple moving average of $19.53 and a two-hundred day simple moving average of $22.64. Pinterest has a 1-year low of $16.14 and a 1-year high of $66.00.

Pinterest (NYSE:PINSGet Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). The company had revenue of $666.00 million for the quarter, compared to analysts’ expectations of $663.19 million. Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, sell-side analysts expect that Pinterest will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, CEO William J. Ready acquired 222,551 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $22.47 per share, with a total value of $5,000,720.97. Following the purchase, the chief executive officer now owns 222,551 shares in the company, valued at $5,000,720.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William J. Ready acquired 222,551 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $22.47 per share, for a total transaction of $5,000,720.97. Following the acquisition, the chief executive officer now directly owns 222,551 shares in the company, valued at approximately $5,000,720.97. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Sharp sold 422,399 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Insiders sold a total of 548,619 shares of company stock worth $10,307,146 in the last 90 days. 7.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Pinterest by 134.4% during the 2nd quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock valued at $25,000 after acquiring an additional 797 shares in the last quarter. Cohanzick Management LLC bought a new stake in shares of Pinterest during the first quarter valued at approximately $25,000. KRS Capital Management LLC bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $26,000. Sandy Cove Advisors LLC bought a new stake in Pinterest in the fourth quarter valued at $33,000. Finally, First Horizon Advisors Inc. boosted its stake in Pinterest by 212.0% in the first quarter. First Horizon Advisors Inc. now owns 1,404 shares of the company’s stock worth $35,000 after purchasing an additional 954 shares in the last quarter. Institutional investors and hedge funds own 63.76% of the company’s stock.

About Pinterest

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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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