Pinterest (NYSE:PINS) Lowered to “Hold” Rating by HSBC

HSBC cut shares of Pinterest (NYSE:PINSFree Report) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $24.90 price target on the stock.

PINS has been the subject of several other research reports. Wells Fargo & Company cut their price target on Pinterest from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Piper Sandler reissued a “neutral” rating and set a $33.00 price target (down previously from $35.00) on shares of Pinterest in a research note on Wednesday, November 5th. Zacks Research cut shares of Pinterest from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Wall Street Zen downgraded Pinterest from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Guggenheim reduced their price objective on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Get Our Latest Analysis on PINS

Pinterest Stock Performance

PINS stock opened at $22.11 on Friday. The company’s 50 day moving average price is $26.03 and its 200 day moving average price is $31.23. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.06 and a beta of 0.91. Pinterest has a fifty-two week low of $21.83 and a fifty-two week high of $40.90.

Pinterest (NYSE:PINSGet Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, insider Malik Ducard sold 6,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $155,160.00. Following the completion of the transaction, the insider directly owned 699,773 shares of the company’s stock, valued at $18,096,129.78. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 22,821 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total transaction of $590,151.06. Following the completion of the transaction, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 105,161 shares of company stock worth $2,796,466. Insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its stake in shares of Pinterest by 24.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 11,141 shares of the company’s stock valued at $288,000 after buying an additional 2,164 shares in the last quarter. New York State Teachers Retirement System bought a new position in Pinterest during the fourth quarter worth $10,629,000. State of New Jersey Common Pension Fund D increased its stake in Pinterest by 1.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 208,499 shares of the company’s stock valued at $5,398,000 after acquiring an additional 3,448 shares during the period. Torren Management LLC bought a new stake in Pinterest in the 4th quarter valued at $50,000. Finally, M&T Bank Corp grew its stake in shares of Pinterest by 29.4% in the 4th quarter. M&T Bank Corp now owns 18,452 shares of the company’s stock valued at $478,000 after purchasing an additional 4,189 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest News Roundup

Here are the key news stories impacting Pinterest this week:

About Pinterest

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Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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