Pinterest (NYSE:PINS) Price Target Cut to $28.00 by Analysts at KeyCorp

Pinterest (NYSE:PINS) had its price target lowered by investment analysts at KeyCorp from $30.00 to $28.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp‘s price target indicates a potential upside of 35.73% from the company’s current price.

Several other equities research analysts have also weighed in on PINS. Barclays lifted their price target on Pinterest from $27.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Citigroup increased their price target on shares of Pinterest from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Guggenheim lifted their price target on shares of Pinterest from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Wedbush reissued a “neutral” rating and set a $24.00 price objective on shares of Pinterest in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pinterest in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Pinterest Trading Down 2.8%

NYSE:PINS opened at $20.63 on Wednesday. The company has a fifty day moving average of $20.83 and a 200 day moving average of $20.89. Pinterest has a 52 week low of $13.84 and a 52 week high of $34.54.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.36 by $0.07. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. The business’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. On average, sell-side analysts predict that Pinterest will post 0.53 EPS for the current year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $22.56, for a total value of $1,057,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Julia Donnelly sold 29,548 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $18.61, for a total transaction of $549,888.28. Following the completion of the transaction, the chief financial officer directly owned 751,921 shares in the company, valued at approximately $13,993,249.81. The trade was a 3.78% 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. Over the last three months, insiders have sold 692,877 shares of company stock valued at $14,733,501. Insiders own 8.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PINS. Root Financial Partners LLC bought a new stake in shares of Pinterest during the 3rd quarter valued at $31,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Pinterest in the 3rd quarter worth $34,000. Summit Securities Group LLC bought a new position in Pinterest in the 1st quarter worth $43,000. Daytona Street Capital LLC bought a new position in Pinterest in the 3rd quarter worth $45,000. Finally, IFP Advisors Inc lifted its position in shares of Pinterest by 110.9% during the 3rd quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock valued at $66,000 after buying an additional 1,846 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Company Profile

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.