Pinterest (NYSE:PINS) Given New $40.00 Price Target at Evercore ISI

Pinterest (NYSE:PINS) had its price target cut by stock analysts at Evercore ISI from $50.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 50.04% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PINS. Monness Crespi & Hardt cut Pinterest from a “buy” rating to a “neutral” rating in a report on Wednesday. Citigroup reissued a “buy” rating and set a $50.00 price target (up from $44.00) on shares of Pinterest in a report on Friday, August 8th. Morgan Stanley raised Pinterest from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $37.00 to $45.00 in a report on Monday, July 21st. Barclays set a $36.00 target price on Pinterest in a report on Wednesday. Finally, TD Cowen upped their price target on shares of Pinterest from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.35.

Pinterest Stock Down 19.0%

PINS opened at $26.66 on Wednesday. Pinterest has a 12-month low of $23.68 and a 12-month high of $40.90. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.73 and a beta of 0.96. The business has a 50 day moving average of $34.19 and a 200-day moving average of $33.87.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.11 EPS for the quarter. The firm had revenue of $665.93 million during the quarter. Pinterest had a net margin of 49.31% and a return on equity of 8.44%. As a group, analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $34.85, for a total value of $795,311.85. Following the transaction, the chief financial officer owned 312,422 shares in the company, valued at approximately $10,887,906.70. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $34.86, for a total transaction of $3,558,613.38. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 640,236 shares of company stock valued at $22,878,326. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Horizon Investment Services LLC lifted its stake in Pinterest by 6.6% during the third quarter. Horizon Investment Services LLC now owns 17,919 shares of the company’s stock worth $576,000 after purchasing an additional 1,110 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Pinterest by 19.5% in the 3rd quarter. Bessemer Group Inc. now owns 5,091 shares of the company’s stock valued at $165,000 after purchasing an additional 832 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Pinterest by 43.2% during the 3rd quarter. Savant Capital LLC now owns 87,381 shares of the company’s stock worth $2,811,000 after buying an additional 26,359 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Pinterest by 19.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 9,813 shares of the company’s stock worth $316,000 after buying an additional 1,594 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Pinterest by 30.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,036,157 shares of the company’s stock valued at $33,333,000 after buying an additional 241,527 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.