Pinterest (NYSE:PINS) Shares Up 6.4% – Should You Buy?

Pinterest, Inc. (NYSE:PINS)’s share price was up 6.4% on Friday . The stock traded as high as $17.77 and last traded at $17.8420. Approximately 11,187,126 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 18,220,918 shares. The stock had previously closed at $16.77.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wedbush lowered their price target on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. BMO Capital Markets set a $28.00 target price on Pinterest and gave the stock an “outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada downgraded Pinterest from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $38.00 to $17.00 in a research note on Friday, February 13th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down previously from $35.00) on shares of Pinterest in a research note on Friday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (down previously from $33.00) on shares of Pinterest in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eighteen have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.87.

Pinterest Trading Up 5.8%

The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 0.86 and a beta of 0.92. The stock has a fifty day moving average price of $23.78 and a 200 day moving average price of $29.37.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Pinterest had a return on equity of 7.95% and a net margin of 9.87%.The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. On average, sell-side analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the transaction, the insider owned 695,187 shares of the company’s stock, valued at $15,335,825.22. The trade was a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 22,821 shares of the company’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 $590,151.06. Following the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,407 shares of company stock valued at $855,925 over the last 90 days. 7.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several large investors have recently made changes to their positions in PINS. Snowden Capital Advisors LLC increased its position in Pinterest by 4.4% during the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock worth $253,000 after acquiring an additional 296 shares during the period. Penserra Capital Management LLC grew its position in Pinterest by 10.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after purchasing an additional 300 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Pinterest by 3.9% during the 2nd 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. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Pinterest by 3.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock worth $369,000 after purchasing an additional 359 shares during the period. Finally, Dynamic Wealth Strategies LLC raised its holdings in Pinterest by 5.8% in the 2nd quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Company Profile

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.