Wells Fargo & Company Begins Coverage on Pinterest (NYSE:PINS)

Stock analysts at Wells Fargo & Company started coverage on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Tuesday. The brokerage set an “overweight” rating and a $25.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 36.84% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Pinterest in a research report on Friday, February 13th. HSBC cut shares of Pinterest from a “buy” rating to a “hold” rating and set a $24.90 target price on the stock. in a research report on Friday, January 30th. UBS Group set a $26.00 target price on shares of Pinterest in a research report on Friday, February 13th. Oppenheimer decreased their target price on shares of Pinterest from $36.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Zacks Research raised shares of Pinterest from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and a consensus price target of $25.42.

Pinterest Price Performance

NYSE PINS opened at $18.27 on Tuesday. The firm’s 50-day moving average is $18.76 and its two-hundred day moving average is $25.20. Pinterest has a 12 month low of $13.84 and a 12 month high of $39.93. The stock has a market capitalization of $12.15 billion, a P/E ratio of 29.95, a PEG ratio of 1.19 and a beta of 0.88.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $0.56 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $22.06, for a total transaction of $50,583.58. Following the sale, the insider directly owned 695,187 shares in the company, valued at $15,335,825.22. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.06% of the stock is owned by company insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently bought and sold shares of PINS. Norges Bank purchased a new stake in Pinterest during the fourth quarter worth about $357,945,000. Davis Selected Advisers purchased a new stake in Pinterest during the third quarter worth about $253,887,000. State Street Corp increased its stake in Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after purchasing an additional 7,412,213 shares during the period. Victory Capital Management Inc. increased its stake in Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after purchasing an additional 6,258,628 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake 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 worth $165,012,000 after buying an additional 4,230,125 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.