Pinterest (NASDAQ:PINS) Rating Lowered to Sell at Zacks Investment Research

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Pinterest (NASDAQ:PINS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Pinterest Inc. provides a visual discovery engine. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions and planning a wedding or a dream vacation. The company also provides Product Pins which make items shoppable with up-to-date pricing; Recipe Pins to cook a meal by bringing the relevant information; and Shop the Look, which enables pinners to shop for the individual products. Pinterest Inc. is based in San Francisco, California. “

Other equities analysts have also issued reports about the company. DA Davidson initiated coverage on Pinterest in a report on Monday, April 15th. They set a “neutral” rating on the stock. Atlantic Securities initiated coverage on Pinterest in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $23.00 price objective on the stock. Citigroup initiated coverage on Pinterest in a research note on Monday, May 13th. They issued a “buy” rating and a $34.00 price objective on the stock. Argus initiated coverage on Pinterest in a research note on Friday, May 10th. They issued a “hold” rating on the stock. Finally, Deutsche Bank initiated coverage on Pinterest in a research note on Monday, May 13th. They issued a “hold” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. Pinterest currently has a consensus rating of “Hold” and an average target price of $29.94.

NASDAQ PINS opened at $26.23 on Tuesday. Pinterest has a fifty-two week low of $23.05 and a fifty-two week high of $35.29. The company’s 50-day moving average is $26.87.

Pinterest (NASDAQ:PINS) last posted its earnings results on Thursday, May 16th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.21). The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $200.64 million. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year.

In other news, Director Fredric G. Reynolds purchased 40,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $27.04 per share, for a total transaction of $1,081,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pinterest Company Profile

There is no company description available for Pinterest Inc

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Analyst Recommendations for Pinterest (NASDAQ:PINS)

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