Pinterest (NYSE:PINS) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Pinterest (NYSE:PINS) from a hold rating to a buy rating in a research note issued to investors on Sunday.

Several other research analysts have also recently commented on the company. Evercore increased their price target on Pinterest from $27.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, August 5th. Wells Fargo & Company upped their price objective on Pinterest from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Pinterest in a report on Wednesday, August 5th. Barclays increased their price objective on Pinterest from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Oppenheimer raised their target price on shares of Pinterest from $24.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.90.

Pinterest Trading Up 0.2%

Shares of NYSE:PINS opened at $23.73 on Friday. The company’s 50-day moving average price is $22.12 and its two-hundred day moving average price is $20.44. Pinterest has a one year low of $13.84 and a one year high of $38.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 3.81. The stock has a market capitalization of $13.29 billion, a PE ratio of 69.80, a price-to-earnings-growth ratio of 1.24 and a beta of 0.90.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.Pinterest’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. On average, equities analysts forecast that Pinterest will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total transaction of $279,187.20. Following the completion of the transaction, the insider directly owned 691,840 shares in the company, valued at approximately $13,594,656. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal 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 46,875 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. 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 have sold 429,816 shares of company stock worth $9,280,201 over the last 90 days. Company insiders own 8.09% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently added to or reduced their stakes in PINS. Vanguard Group Inc. increased its holdings in shares of Pinterest by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock valued at $1,606,632,000 after purchasing an additional 1,069,646 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Pinterest by 15.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after buying an additional 3,669,476 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after buying an additional 6,258,628 shares during the period. State Street Corp boosted its holdings in shares of Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Pinterest by 15.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock valued at $638,969,000 after buying an additional 2,319,964 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Key Headlines Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

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.