Barclays Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target lowered by Barclays from $42.00 to $38.00 in a research report report published on Friday, Marketbeat Ratings reports. Barclays currently has an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Monness Crespi & Hardt lowered their target price on Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. Roth Capital set a $32.00 price target on Pinterest in a research report on Monday, February 3rd. Finally, Oppenheimer boosted their price objective on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.27.

Pinterest Stock Performance

Shares of PINS stock opened at $29.23 on Friday. The firm has a market cap of $19.82 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $31.21. Pinterest has a one year low of $23.68 and a one year high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. As a group, research analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the completion of the transaction, the director now owns 26,786 shares in the company, valued at $723,222. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 453,836 shares of company stock worth $14,828,392. Insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in Pinterest in the 1st quarter valued at $25,000. Garde Capital Inc. purchased a new position in Pinterest during the first quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in Pinterest in the fourth quarter valued at about $28,000. NBC Securities Inc. boosted its holdings in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after purchasing an additional 999 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in shares of Pinterest during the 1st quarter worth approximately $32,000. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Company Profile

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.