Pinterest (NYSE:PINS) Rating Increased to Buy at Wall Street Zen

Pinterest (NYSE:PINS) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

PINS has been the topic of several other research reports. Wells Fargo & Company raised their target price on shares of Pinterest from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Evercore set a $27.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. DA Davidson initiated coverage on shares of Pinterest in a research note on Wednesday. They set a “buy” rating and a $26.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $24.00 target price on shares of Pinterest in a report on Monday, June 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $30.00 target price on shares of Pinterest in a report on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.42.

Pinterest Stock Performance

Shares of PINS traded down $0.17 during trading hours on Friday, reaching $22.53. 9,855,983 shares of the company’s stock traded hands, compared to its average volume of 14,842,024. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 46.94, a P/E/G ratio of 1.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest has a twelve month low of $13.84 and a twelve month high of $39.93. The business’s fifty day simple moving average is $20.76 and its two-hundred day simple moving average is $20.91.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The company’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Analysts predict that Pinterest will post 0.66 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of Pinterest stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total value of $42,000.00. Following the transaction, the director owned 27,450 shares in the company, valued at approximately $549,000. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total value of $1,060,781.25. 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 a total of 325,945 shares of company stock valued at $6,878,065 over the last ninety days. Insiders own 8.09% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently modified their holdings of the stock. Snowden Capital Advisors LLC lifted its stake in shares of Pinterest by 4.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after purchasing an additional 296 shares during the period. EP Wealth Advisors LLC grew its stake in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock worth $340,000 after purchasing an additional 358 shares during the period. Central Pacific Bank Trust Division increased its holdings in Pinterest by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 95,960 shares of the company’s stock worth $2,484,000 after purchasing an additional 464 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in Pinterest by 5.5% in the fourth quarter. Simon Quick Advisors LLC now owns 10,237 shares of the company’s stock worth $265,000 after purchasing an additional 535 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Pinterest by 2.2% in the fourth quarter. CIBC Asset Management Inc now owns 26,434 shares of the company’s stock valued at $684,000 after buying an additional 560 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

About Pinterest

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.