Benchmark Reiterates Hold Rating for Pinterest (NYSE:PINS)

Benchmark restated their hold rating on shares of Pinterest (NYSE:PINS) in a research report report published on Wednesday, Benzinga reports.

Several other research analysts have also issued reports on the stock. Piper Sandler raised their target price on shares of Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a buy rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday. Wedbush lifted their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday. KeyCorp cut their price target on Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus raised their price target on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Price Performance

Shares of Pinterest stock opened at $40.40 on Wednesday. The firm has a 50 day simple moving average of $34.60 and a 200 day simple moving average of $34.40. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm has a market cap of $27.43 billion, a P/E ratio of 192.39, a P/E/G ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, sell-side analysts expect that Pinterest will post 0.36 EPS for the current year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Pinterest in the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. lifted its position in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new position in Pinterest during the third quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

About Pinterest

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.