KeyCorp Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS) had its price objective dropped by analysts at KeyCorp from $48.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 21.14% from the company’s current price.

A number of other analysts also recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $48.00 target price on shares of Pinterest in a research report on Tuesday, March 26th. Susquehanna boosted their price target on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price target on shares of Pinterest in a report on Friday, February 9th. Finally, Wedbush boosted their price target on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Pinterest Stock Performance

PINS opened at $33.02 on Wednesday. The business’s fifty day moving average is $34.74 and its two-hundred day moving average is $34.12. The company has a market cap of $22.42 billion, a price-to-earnings ratio of -550.24, a PEG ratio of 4.49 and a beta of 0.99. Pinterest has a one year low of $20.60 and a one year high of $41.60.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, analysts predict that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the sale, the director now owns 74,215 shares in the company, valued at $2,789,741.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the sale, the director now owns 33,580 shares in the company, valued at approximately $1,145,078. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock valued at $6,525,231 over the last quarter. Company insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. GAMMA Investing LLC acquired a new stake in shares of Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new stake in Pinterest in the 4th quarter valued at approximately $30,000. Washington Trust Advisors Inc. increased its position in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC acquired a new stake in Pinterest in the 3rd quarter valued at approximately $41,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Pinterest in the 4th quarter valued at approximately $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.