In yesterday’s Wall Street session, Pinterest Inc (NYSE:PINS) shares traded at $26.64, up 2.62% from the previous session.
34 analysts cover Pinterest Inc (NYSE:PINS), according to research data. 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 $32.10. Given the previous closing price of $25.96, this indicates a potential upside of 23.65 percent. PINS stock price is now -1.15% away from the 50-day moving average and 1.81% away from the 200-day moving average. The market capitalization of the company currently stands at $17.85B.
The stock has received a hold rating from 13 analysts and a buy rating from 16. Brokers who have rated the stock have averaged $32.89 as their price target over the next twelve months.
With the price target enhanced from $27 to $32, Stifel Upgraded its rating from Hold to Buy for Pinterest Inc (NYSE: PINS).
In other news, Rajaram Gokul, Director sold 1,934 shares of the company’s stock on Oct 18. The stock was sold for $53,108 at an average price of $27.46. Upon completion of the transaction, the Director now directly owns 50,986 shares in the company, valued at $1.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, Chief People Officer Deputy Christine sold 45,151 shares of the business’s stock. A total of $1,204,782 was realized by selling the stock at an average price of $26.68. This leaves the insider owning 263,783 shares of the company worth $7.03 million. Insiders disposed of 7,629,475 shares of company stock worth roughly $203.25 million over the past 1 year. A total of 14.51% 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 $182,810,000. CLEARBRIDGE INVESTMENTS, LLC invested $144,193,000 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 $83,985,000. BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in PINS for approximately $78,521,000. SENATOR INVESTMENT GROUP LP purchased a new stake in PINS valued at around $34,499,000 in the second quarter. In total, there are 979 active investors with 74.03% ownership of the company’s stock.
On Monday morning Pinterest Inc (NYSE: PINS) stock kicked off with the opening price of $26.64. 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 0.06, a current ratio of 9.19, and a quick ratio of 9.19. The fifty day moving average price for PINS is $26.95 and a two-hundred day moving average price translates $26.17 for the stock.
The latest earnings results from Pinterest Inc (NYSE: PINS) was released for Jun, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.21, beating analysts’ expectations of $0.12 by 0.09. This compares to -$0.07 EPS in the same period last year. The net profit margin was -10.14% and return on equity was -9.99% 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. For the current quarter, analysts expect PINS to generate $743.44M in revenue.
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.
