KeyCorp Lowers Pinterest (NYSE:PINS) Price Target to $41.00

Pinterest (NYSE:PINS) had its target price cut by investment analysts at KeyCorp from $46.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 31.65% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Roth Capital set a $32.00 price target on shares of Pinterest in a report on Monday, February 3rd. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, February 7th. Monness Crespi & Hardt raised Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Cantor Fitzgerald raised their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.30.

Pinterest Stock Performance

NYSE PINS opened at $31.14 on Tuesday. The company’s 50-day simple moving average is $34.34 and its two-hundred day simple moving average is $32.29. Pinterest has a one year low of $27.00 and a one year high of $45.19. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities analysts expect that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock valued at $3,653,577 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in Pinterest during the fourth quarter worth about $28,000. GAMMA Investing LLC grew its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. Crewe Advisors LLC increased its stake in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in Pinterest by 401.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after buying an additional 1,204 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.