Pinterest (NYSE:PINS) Price Target Raised to $32.00

Pinterest (NYSE:PINS) had its price objective hoisted by Morgan Stanley from $30.00 to $32.00 in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently commented on PINS. TD Cowen restated a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Royal Bank Of Canada boosted their price target on shares of Pinterest from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 5th. DA Davidson initiated coverage on shares of Pinterest in a report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price target for the company. Benchmark reduced their price objective on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Pinterest in a report on Wednesday. Seventeen equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.90.

Pinterest Trading Up 1.7%

NYSE PINS opened at $23.73 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 4.23. The stock has a market capitalization of $13.29 billion, a P/E ratio of 69.80, a PEG ratio of 1.25 and a beta of 0.90. The firm’s 50-day moving average is $22.12 and its two-hundred day moving average is $20.48. Pinterest has a 12 month low of $13.84 and a 12 month high of $38.57.

Pinterest (NYSE:PINS) last released its earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.33 EPS. Pinterest’s revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Pinterest will post 0.63 earnings per share for the current year.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total value of $559,315.02. Following the sale, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Donnelly Julia Brau sold 59,096 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $23.48, for a total transaction of $1,387,574.08. Following the completion of the transaction, the chief financial officer directly owned 817,409 shares of the company’s stock, valued at $19,192,763.32. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 429,816 shares of company stock worth $9,280,201 in the last ninety days. 8.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Pinterest in the fourth quarter valued at $357,945,000. State Street Corp increased its stake in shares of Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Pinterest by 30.5% in the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after buying an additional 6,258,628 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Pinterest by 271.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after purchasing an additional 4,375,000 shares during the period. Finally, Davis Selected Advisers increased its stake in Pinterest by 49.5% during the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock worth $305,554,000 after purchasing an additional 3,909,926 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

More Pinterest News

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

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.