Pinterest (NYSE:PINS) Stock Price Up 36.1% on Earnings Beat

Pinterest (NYSE:PINS)’s stock price rose 36.1% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $34.55 and last traded at $34.29, approximately 111,331,492 shares were traded during mid-day trading. An increase of 664% from the average daily volume of 14,565,480 shares. The stock had previously closed at $25.19.

The company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.24. The firm had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $254.79 million. Pinterest had a negative net margin of 120.48% and a negative return on equity of 73.06%. Pinterest’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS.

PINS has been the subject of a number of recent research reports. Nomura Securities reiterated a “buy” rating and set a $32.00 price target on shares of Pinterest in a research note on Sunday, April 19th. MKM Partners reduced their target price on shares of Pinterest from $29.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Barclays raised their target price on shares of Pinterest from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Pivotal Research raised their target price on shares of Pinterest from $19.50 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $32.00 target price on shares of Pinterest in a research note on Thursday, April 9th. Fifteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.27.

In other Pinterest news, CAO Tseli Lily Yang sold 1,448 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $18.60, for a total transaction of $26,932.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Evan Sharp sold 62,500 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.93, for a total transaction of $1,683,125.00. Following the transaction, the insider now owns 62,500 shares of the company’s stock, valued at $1,683,125. The disclosure for this sale can be found here. Insiders have sold a total of 983,025 shares of company stock valued at $21,910,436 over the last 90 days.

Several hedge funds and other institutional investors have recently modified their holdings of PINS. Capital International Investors grew its holdings in shares of Pinterest by 375.3% during the first quarter. Capital International Investors now owns 11,500,554 shares of the company’s stock worth $177,569,000 after buying an additional 9,080,885 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Pinterest by 187.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,857,997 shares of the company’s stock worth $152,207,000 after buying an additional 6,432,356 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Pinterest by 203.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,780,905 shares of the company’s stock worth $135,577,000 after buying an additional 5,888,564 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Pinterest by 1,155.4% during the first quarter. Deutsche Bank AG now owns 5,465,948 shares of the company’s stock worth $84,395,000 after buying an additional 5,030,538 shares in the last quarter. Finally, Flossbach Von Storch AG grew its holdings in shares of Pinterest by 21.4% during the first quarter. Flossbach Von Storch AG now owns 26,737,064 shares of the company’s stock worth $412,820,000 after buying an additional 4,714,125 shares in the last quarter. Institutional investors and hedge funds own 46.20% of the company’s stock.

The firm has a market capitalization of $20.11 billion, a PE ratio of -10.85 and a beta of 1.56. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average price is $23.92 and its 200 day moving average price is $20.41.

Pinterest Company Profile (NYSE:PINS)

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.