Investment Analysts’ Recent Ratings Changes for Pinterest (PINS)

Pinterest (NYSE: PINS) has recently received a number of price target changes and ratings updates:

• 10/31/2023 – Pinterest had its price target raised by analysts at Royal Bank of Canada from $30.00 to $32.00. They now have a “sector perform” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at Piper Sandler from $35.00 to $37.00. They now have an “overweight” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at KeyCorp from $35.00 to $37.00. They now have an “overweight” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at JPMorgan Chase & Co. from $32.00 to $34.00. They now have a “neutral” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at Roth Mkm from $29.00 to $31.00. They now have a “neutral” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at Wedbush from $30.00 to $32.00. They now have a “neutral” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at Morgan Stanley from $24.00 to $25.00. They now have an “equal weight” rating on the stock.
• 10/31/2023 – Pinterest had its price target raised by analysts at Rosenblatt Securities from $38.00 to $45.00. They now have a “buy” rating on the stock.
• 10/31/2023 – Pinterest was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $37.00 price target on the stock, up previously from $32.00.
• 10/23/2023 – Pinterest was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the stock, up previously from $27.00.
• 10/18/2023 – Pinterest is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $30.00 price target on the stock.
• 9/26/2023 – Pinterest is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $32.10 price target on the stock.
• 9/26/2023 – Pinterest is now covered by analysts at HSBC Holdings plc. They set a “buy” rating and a $32.10 price target on the stock.
• 9/22/2023 – Pinterest had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $29.00 price target on the stock.

Pinterest Stock Performance

PINS stock traded down $0.72 during mid-day trading on Tuesday, hitting $31.41. 4,605,963 shares of the company were exchanged, compared to its average volume of 11,436,712. The firm has a market cap of $21.18 billion, a P/E ratio of -98.16, a P/E/G ratio of 8.87 and a beta of 0.99. The firm’s 50 day simple moving average is $27.96 and its 200 day simple moving average is $26.68. Pinterest, Inc. has a 1-year low of $20.60 and a 1-year high of $32.52.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. The company had revenue of $763.20 million during the quarter, compared to analysts’ expectations of $743.34 million. Pinterest had a negative net margin of 7.43% and a negative return on equity of 1.98%. On average, equities research analysts predict that Pinterest, Inc. will post 0.1 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Jeffrey D. Jordan sold 2,500 shares of Pinterest stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 134,215 shares of the company’s stock, valued at $4,026,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 2,500 shares of Pinterest stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $30.00, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 134,215 shares of the company’s stock, valued at $4,026,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $27.90, for a total transaction of $53,958.60. Following the transaction, the director now directly owns 52,920 shares of the company’s stock, valued at $1,476,468. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,935 shares of company stock valued at $4,752,888. 6.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Pinterest by 21.9% during the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after acquiring an additional 2,437 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Pinterest during the first quarter worth about $906,000. Raymond James Trust N.A. grew its holdings in shares of Pinterest by 29.0% during the first quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock worth $279,000 after purchasing an additional 2,550 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pinterest by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock worth $12,118,000 after purchasing an additional 51,318 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Pinterest by 261.5% during the first quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock worth $6,691,000 after purchasing an additional 198,153 shares during the last quarter. Institutional investors and hedge funds own 72.63% of the company’s stock.

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.