The stock of Pinterest Inc. (NYSE:PINS) last traded at $26.91, up 0.64% from the previous session.
Data from the available sources indicates that Pinterest Inc. (NYSE:PINS) is covered by 32 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $24.00, we find $32.00. Given the previous closing price of $26.74, this indicates a potential upside of 19.67 percent. PINS stock price is now -1.00% away from the 50-day moving average and 5.15% away from the 200-day moving average. The market capitalization of the company currently stands at $17.92B.
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In total, 16 analysts have assigned it a hold rating, and 12 have given it a buy rating. Brokers who have rated the stock have averaged $32.11 as their price target over the next twelve months.
With the price target of $30, Wedbush recently initiated with Neutral rating for Pinterest Inc. (NYSE: PINS).
In other news, Deputy Christine, Chief People Officer sold 45,153 shares of the company’s stock on Aug 21. The stock was sold for $1,231,074 at an average price of $27.26. Upon completion of the transaction, the Chief People Officer now directly owns 394,989 shares in the company, valued at $10.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16, Chief Legal & Bus Affairs Ofc. Walcott Wanjiku Juanita sold 25,557 shares of the business’s stock. A total of $647,581 was realized by selling the stock at an average price of $25.34. This leaves the insider owning 277,446 shares of the company worth $7.47 million. Insiders disposed of 7,454,635 shares of company stock worth roughly $200.6 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PINS stock. A new stake in Pinterest Inc. shares was purchased by CAPITAL WORLD INVESTORS during the first quarter worth $184,663,000. CLEARBRIDGE INVESTMENTS, LLC invested $145,654,000 in shares of PINS during the first quarter. In the first quarter, MAN GROUP PLC acquired a new stake in Pinterest Inc. valued at approximately $84,836,000. BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in PINS for approximately $79,317,000. SENATOR INVESTMENT GROUP LP purchased a new stake in PINS valued at around $34,848,000 in the second quarter. In total, there are 979 active investors with 91.00% ownership of the company’s stock.
With an opening price of $26.85 on Friday morning, Pinterest Inc. (NYSE: PINS) set off the trading day. During the past 12 months, Pinterest Inc. has had a low of $20.60 and a high of $30.86. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 9.20, and a quick ratio of 9.20. The fifty day moving average price for PINS is $27.23 and a two-hundred day moving average price translates $25.61 for the stock.
The latest earnings results from Pinterest Inc. (NYSE: PINS) was released for Jun, 2023. The net profit margin was -10.10% and return on equity was -9.60% for PINS. The company reported revenue of $708.02 million for the quarter, compared to $665.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.32 percent.
Pinterest Inc.(PINS) Company Profile
Pinterest, Inc. operates as a visual discovery engine in the United States and internationally. The company’s engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites. The company was formerly known as Cold Brew Labs Inc. and changed its name to Pinterest, Inc. in April 2012. Pinterest, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.
