Pinterest (NYSE:PINS) Stock Price Target Lowered at KeyCorp

Pinterest (NYSE:PINS) had its target price lowered by equities research analysts at KeyCorp from $30.00 to $28.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp‘s price objective would indicate a potential upside of 35.73% from the company’s current price.

Several other analysts also recently issued reports on PINS. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Pinterest in a research note on Wednesday, August 5th. Susquehanna reaffirmed a “positive” rating on shares of Pinterest in a research report on Wednesday, August 5th. Jefferies Financial Group upgraded Pinterest from a “hold” rating to a “buy” rating in a research note on Monday, August 31st. Rosenblatt Securities lifted their target price on Pinterest from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Mizuho boosted their target price on shares of Pinterest from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Pinterest Price Performance

PINS opened at $20.63 on Wednesday. The firm has a 50-day simple moving average of $20.83 and a two-hundred day simple moving average of $20.89. Pinterest has a 52 week low of $13.84 and a 52 week high of $34.54.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.33 EPS. Pinterest’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pinterest will post 0.53 EPS for the current fiscal year.

Insider Activity

In other Pinterest news, CFO Julia Donnelly sold 59,096 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $23.48, for a total value of $1,387,574.08. Following the sale, the chief financial officer owned 817,409 shares in the company, valued at approximately $19,192,763.32. This represents a 6.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 93,750 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $21.43, for a total transaction of $2,009,062.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 692,877 shares of company stock valued at $14,733,501. Insiders own 8.09% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Root Financial Partners LLC purchased a new position in shares of Pinterest during the third quarter worth $31,000. Reyes Financial Architecture Inc. purchased a new position in Pinterest during the 3rd quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in Pinterest in the 1st quarter valued at about $43,000. Daytona Street Capital LLC purchased a new stake in Pinterest during the third quarter worth about $45,000. Finally, IFP Advisors Inc grew its holdings in shares of Pinterest by 110.9% in the third quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock valued at $66,000 after purchasing an additional 1,846 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.