TD Cowen Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective reduced by TD Cowen from $46.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 55.50% from the company’s previous close.

PINS has been the topic of several other research reports. Cantor Fitzgerald increased their price target on Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Wedbush lifted their price objective on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Finally, The Goldman Sachs Group upped their price objective on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.07.

Pinterest Price Performance

Pinterest stock traded up $0.32 during mid-day trading on Tuesday, reaching $25.72. 4,924,035 shares of the stock traded hands, compared to its average volume of 10,269,309. The stock has a market capitalization of $17.45 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The business’s 50-day moving average is $34.23 and its 200-day moving average is $32.38. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 anticipate that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the transaction, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 453,836 shares of company stock worth $14,832,336 in the last quarter. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Pinterest in the fourth quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Pinterest by 51.5% in the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after acquiring an additional 590 shares during the last quarter. Finally, Huntington National Bank lifted its position in Pinterest by 484.1% in the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after buying an additional 1,680 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

About Pinterest

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.