Wedbush Reaffirms Neutral Rating for Pinterest (NYSE:PINS)

Pinterest (NYSE:PINS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a research report issued on Thursday,Benzinga reports. They presently have a $24.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 1.35% from the company’s current price.

Several other analysts have also weighed in on PINS. Benchmark lowered their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Morgan Stanley lifted their price target on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on shares of Pinterest from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Pinterest from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Rosenblatt Securities raised their target price on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Seventeen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.66.

Pinterest Price Performance

Shares of PINS opened at $23.68 on Thursday. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 1.28 and a beta of 0.89. The stock has a 50 day moving average of $20.87 and a 200-day moving average of $20.81. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. Pinterest has a 52 week low of $13.84 and a 52 week high of $39.93.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. As a group, analysts forecast that Pinterest will post 0.66 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total value of $1,060,781.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of Pinterest stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,845 shares of company stock valued at $6,836,065 over the last three months. 8.09% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in PINS. Elevated Capital Advisors LLC bought a new stake in Pinterest during the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Pinterest by 2,017.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,101 shares of the company’s stock worth $29,000 after purchasing an additional 1,049 shares in the last quarter. Addison Advisors LLC grew its stake in shares of Pinterest by 727.3% in the fourth quarter. Addison Advisors LLC now owns 1,365 shares of the company’s stock worth $35,000 after purchasing an additional 1,200 shares in the last quarter. Garner Asset Management Corp acquired a new position in shares of Pinterest during the fourth quarter valued at $36,000. Finally, Summit Securities Group LLC acquired a new position in shares of Pinterest during the first quarter valued at $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.