Pinterest (NYSE:PINS) Stock Lifted to “Strong-Buy” by Phillip Securities

Phillip Securities upgraded shares of Pinterest (NYSE:PINS) to a strong-buy rating in a report issued on Monday,Zacks reports.

Several other research analysts have also issued reports on PINS. DA Davidson increased their price target on shares of Pinterest from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Evercore upped their price objective on shares of Pinterest from $27.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Pinterest from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. BMO Capital Markets lifted their target price on shares of Pinterest from $30.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, TD Cowen reissued a “buy” rating on shares of Pinterest in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.90.

Pinterest Price Performance

PINS opened at $22.33 on Monday. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.34. The company has a market cap of $12.51 billion, a price-to-earnings ratio of 65.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The stock has a fifty day simple moving average of $20.92 and a two-hundred day simple moving average of $20.99. Pinterest has a 12-month low of $13.84 and a 12-month high of $35.42.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.33 EPS. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts predict that Pinterest will post 0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Julia Donnelly sold 29,548 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $18.61, for a total value of $549,888.28. Following the transaction, the chief financial officer owned 751,921 shares in the company, valued at approximately $13,993,249.81. This represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $21.56, for a total transaction of $1,010,625.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 644,952 shares of company stock valued at $13,652,019. Company insiders own 8.09% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in Pinterest by 2,017.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock valued at $29,000 after acquiring an additional 1,049 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Pinterest in the 1st quarter worth $43,000. MidFirst Bank bought a new stake in shares of Pinterest in the 4th quarter worth $44,000. Daytona Street Capital LLC purchased a new position in shares of Pinterest in the third quarter worth $45,000. Finally, IFP Advisors Inc raised its stake in shares of Pinterest by 110.9% in the third quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock worth $66,000 after purchasing an additional 1,846 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.