Pinterest (NYSE:PINS) Downgraded by Hsbc Global Res to Hold

Hsbc Global Res lowered shares of Pinterest (NYSE:PINSFree Report) from a strong-buy rating to a hold rating in a research report sent to investors on Friday morning,Zacks.com reports.

PINS has been the subject of a number of other research reports. Piper Sandler reissued a “neutral” rating and issued a $33.00 price target (down previously from $35.00) on shares of Pinterest in a report on Wednesday, November 5th. HSBC lowered Pinterest from a “buy” rating to a “hold” rating and set a $24.90 target price on the stock. in a research report on Friday. Wolfe Research set a $33.00 price target on shares of Pinterest and gave the stock an “outperform” rating in a research report on Monday, January 5th. Guggenheim dropped their price target on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pinterest in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $38.00.

View Our Latest Stock Report on PINS

Pinterest Price Performance

Pinterest stock opened at $22.11 on Friday. Pinterest has a 12-month low of $21.83 and a 12-month high of $40.90. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. The firm’s fifty day moving average price is $26.03 and its 200 day moving average price is $31.23.

Pinterest (NYSE:PINSGet Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 22,821 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $25.86, for a total transaction of $590,151.06. Following the transaction, the chief financial officer directly owned 540,358 shares in the company, valued at $13,973,657.88. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Malik Ducard sold 2,293 shares of Pinterest stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $26.18, for a total transaction of $60,030.74. Following the completion of the transaction, the insider directly owned 697,480 shares of the company’s stock, valued at approximately $18,260,026.40. This represents a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 105,161 shares of company stock valued at $2,796,466. Corporate insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Pinterest in the second quarter worth about $477,853,000. Davis Selected Advisers acquired a new stake in shares of Pinterest during the 3rd quarter worth approximately $253,887,000. Balyasny Asset Management L.P. lifted its holdings in shares of Pinterest by 1,138.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 4,601,571 shares of the company’s stock worth $165,012,000 after purchasing an additional 4,230,125 shares during the last quarter. Man Group plc boosted its position in Pinterest by 185.7% during the 3rd quarter. Man Group plc now owns 4,983,427 shares of the company’s stock valued at $160,317,000 after purchasing an additional 3,239,222 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Pinterest by 18.5% during the 3rd quarter. Victory Capital Management Inc. now owns 20,550,242 shares of the company’s stock worth $685,899,000 after buying an additional 3,213,241 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

Trending Headlines about Pinterest

Here are the key news stories impacting Pinterest this week:

About Pinterest

(Get Free Report)

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.

Read More

Analyst Recommendations for Pinterest (NYSE:PINS)

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.