Pinterest (NYSE:PINS) Stock Gets Price Target Cut from Citigroup

Pinterest (NYSE:PINS) had its target price trimmed by Citigroup from $27.00 to $22.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

PINS has been the topic of several other reports. Susquehanna lowered their price objective on Pinterest from $32.00 to $25.00 and set a “positive” rating on the stock in a research note on Friday, October 30th. Wall Street Zen downgraded Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Bank of America reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Pinterest in a research note on Friday, October 30th. The Goldman Sachs Group decreased their price target on Pinterest from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, Evercore set a $24.00 price target on Pinterest in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of “Hold” and an average price target of $25.97.

Pinterest Price Performance

Shares of NYSE:PINS opened at $21.21 on Monday. The business’s 50 day moving average is $20.46 and its 200-day moving average is $20.69. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.88 billion, a PE ratio of 84.83, a PEG ratio of 1.46 and a beta of 0.98. Pinterest has a 1-year low of $13.84 and a 1-year high of $27.96.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). Pinterest had a return on equity of 6.58% and a net margin of 3.81%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Pinterest will post 0.55 earnings per share for the current year.

Insider Activity

In related news, CFO Julia Donnelly sold 59,096 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the sale, the chief financial officer owned 817,409 shares of the company’s stock, valued at approximately $19,192,763.32. This trade represents a 6.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of Pinterest stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $21.43, for a total value of $2,009,062.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 739,752 shares of company stock worth $15,667,251 in the last three months. Insiders own 8.09% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of Pinterest by 271.1% during the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after acquiring an additional 4,375,000 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Pinterest by 15.4% during the 1st quarter. Bank of America Corp DE now owns 5,848,116 shares of the company’s stock worth $107,254,000 after acquiring an additional 779,998 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Pinterest by 300.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock worth $83,084,000 after acquiring an additional 3,299,884 shares during the period. Bank of New York Mellon Corp increased its holdings in Pinterest by 11.1% in the 1st quarter. Bank of New York Mellon Corp now owns 4,014,388 shares of the company’s stock worth $73,624,000 after acquiring an additional 401,619 shares during the last quarter. Finally, Senvest Management LLC increased its holdings in Pinterest by 5.1% in the 1st quarter. Senvest Management LLC now owns 3,594,581 shares of the company’s stock worth $65,925,000 after acquiring an additional 175,000 shares during the last quarter. 88.81% of the stock is owned by 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.