Pinterest (NYSE:PINS) Receives Neutral Rating from Wedbush

Pinterest (NYSE:PINS)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a research report issued on Wednesday,Benzinga reports. They currently have a $24.00 price target on the stock. Wedbush’s price objective would suggest a potential downside of 3.11% from the company’s current price.

PINS has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on Pinterest from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Robert W. Baird increased their price target on Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings raised Pinterest from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Morgan Stanley boosted their price objective on Pinterest from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Pinterest in a research note on Tuesday, May 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.82.

Pinterest Trading Down 3.2%

Shares of NYSE:PINS opened at $24.77 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 1.43 and a beta of 0.90. Pinterest has a 1-year low of $13.84 and a 1-year high of $39.83. The company has a 50 day moving average price of $21.93 and a 200 day moving average price of $20.50.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, research analysts anticipate that Pinterest will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $19.65, for a total value of $279,187.20. Following the transaction, the insider owned 691,840 shares in the company, valued at $13,594,656. This represents a 2.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 370,720 shares of company stock valued at $7,892,627 in the last 90 days. Corporate insiders own 8.09% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently bought and sold shares of PINS. Vanguard Group Inc. grew its stake in Pinterest by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock valued at $1,606,632,000 after acquiring an additional 1,069,646 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Pinterest by 15.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after purchasing an additional 3,669,476 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after purchasing an additional 6,258,628 shares in the last quarter. State Street Corp boosted its holdings in shares of Pinterest by 52.6% during the fourth quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after purchasing an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 15.0% during the second quarter. Ameriprise Financial Inc. now owns 17,818,418 shares of the company’s stock worth $638,969,000 after purchasing an additional 2,319,964 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest News Roundup

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Pinterest beat expectations with adjusted earnings of $0.43 per share versus the $0.36 consensus and revenue of $1.18 billion, up 18.2% year over year. Monthly active users rose 11% to a record 640 million, while adjusted EBITDA reached $311 million. Pinterest Second Quarter Results
• Positive Sentiment: Several analysts raised their price targets following the report. Morgan Stanley and Mizuho moved to $32, UBS raised its target to $33, and Cantor Fitzgerald reaffirmed its overweight rating with a $30 target. Guggenheim also upgraded its target to $26 with a buy rating.
• Neutral Sentiment: Other firms remained cautious: Evercore raised its target to $29 but kept an in-line rating, while Baird and Rosenblatt maintained neutral ratings. RBC raised its target to $25 but retained a sector-perform rating. Analyst Price Target Changes
• Negative Sentiment: Third-quarter revenue guidance of approximately $1.2 billion was viewed as lukewarm and implied slower growth. Investors are concerned that larger platforms such as Meta’s Instagram are increasing advertising competition. The outlook overshadowed the earnings and user-growth beats, while higher costs contributed to a reported $47 million GAAP net loss. Pinterest Faces Slower Growth and Ad Competition

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.