Investment Analysts’ Recent Ratings Changes for Pinterest (PINS)

Several analysts have recently updated their ratings and price targets for Pinterest (NYSE: PINS):

• 9/24/2024 – Pinterest is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $45.00 price target on the stock.
• 9/23/2024 – Pinterest had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $41.00 price target on the stock.
• 9/23/2024 – Pinterest is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $43.00 price target on the stock.
• 9/13/2024 – Pinterest had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $45.00 price target on the stock.
• 9/12/2024 – Pinterest had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $48.00 price target on the stock.
• 9/5/2024 – Pinterest is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $41.00 price target on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Susquehanna from $50.00 to $45.00. They now have a “positive” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Wells Fargo & Company from $49.00 to $41.00. They now have an “overweight” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at KeyCorp from $45.00 to $43.00. They now have an “overweight” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Piper Sandler from $52.00 to $45.00. They now have an “overweight” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Evercore ISI from $50.00 to $48.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Raymond James from $45.00 to $40.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Robert W. Baird from $44.00 to $41.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Roth Mkm from $40.00 to $39.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Wedbush from $46.00 to $37.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at JPMorgan Chase & Co. from $44.00 to $38.00. They now have a “neutral” rating on the stock.
• 7/31/2024 – Pinterest had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 7/31/2024 – Pinterest had its price target lowered by analysts at Barclays PLC from $38.00 to $36.00. They now have an “equal weight” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Stifel Nicolaus from $46.00 to $45.00. They now have a “buy” rating on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at UBS Group AG from $57.00 to $52.00. They now have a “buy” rating on the stock.
• 7/31/2024 – Pinterest had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $48.00 price target on the stock.
• 7/31/2024 – Pinterest had its price target lowered by analysts at Citigroup Inc. from $51.00 to $44.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Pinterest had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $52.00 price target on the stock.

Pinterest Price Performance

Shares of Pinterest stock traded up $0.57 during trading hours on Thursday, hitting $32.72. The company had a trading volume of 10,988,805 shares, compared to its average volume of 9,631,066. The company’s 50-day moving average is $32.01 and its two-hundred day moving average is $36.66. Pinterest, Inc. has a twelve month low of $23.59 and a twelve month high of $45.19. The company has a market cap of $22.45 billion, a P/E ratio of 155.82, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. Pinterest’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. Sell-side analysts expect that Pinterest, Inc. will post 0.39 EPS for the current year.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after acquiring an additional 5,524,796 shares during the last quarter. Bank of New York Mellon Corp raised its position in Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock worth $193,473,000 after acquiring an additional 3,134,776 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Pinterest during the second quarter worth about $98,655,000. Contour Asset Management LLC raised its position in Pinterest by 79.5% during the fourth quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock worth $169,242,000 after acquiring an additional 2,023,500 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Pinterest by 45.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after acquiring an additional 1,798,494 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.