Pinterest (NYSE:PINS) Downgraded to Hold Rating by Evercore ISI

Evercore ISI cut shares of Pinterest (NYSE:PINSFree Report) from a strong-buy rating to a hold rating in a report released on Friday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Pinterest from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price objective (down from $35.00) on shares of Pinterest in a research report on Friday. UBS Group set a $26.00 target price on Pinterest in a research report on Friday. Wolfe Research set a $33.00 price target on Pinterest and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $23.00 price objective on shares of Pinterest in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.31.

Read Our Latest Report on Pinterest

Pinterest Stock Performance

PINS stock opened at $15.40 on Friday. The firm has a market cap of $10.41 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92. Pinterest has a 1 year low of $13.84 and a 1 year high of $39.93. The stock has a 50-day simple moving average of $24.68 and a 200-day simple moving average of $29.98.

Pinterest (NYSE:PINSGet Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a return on equity of 7.93% and a net margin of 9.87%.The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Pinterest will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Malik Ducard sold 6,000 shares of Pinterest stock in a transaction on Wednesday, December 24th. The stock was 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 approximately $18,096,129.78. This represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 33,407 shares of company stock valued at $855,925. Insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Pinterest in the 4th quarter valued at about $357,945,000. Davis Selected Advisers bought a new position in Pinterest in the third quarter worth about $253,887,000. State Street Corp boosted its stake in Pinterest by 52.6% in the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after purchasing an additional 6,258,628 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Pinterest by 1,138.8% during the second quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock valued at $165,012,000 after purchasing an additional 4,230,125 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

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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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