Morgan Stanley Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price cut by stock analysts at Morgan Stanley from $35.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 44.04% from the stock’s current price.

Other research analysts have also recently issued reports about the company. TD Cowen lowered their target price on Pinterest from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Wedbush cut their target price on shares of Pinterest from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Barclays reduced their target price on shares of Pinterest from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, February 13th. Roth Mkm decreased their price target on shares of Pinterest from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Finally, HSBC cut shares of Pinterest from a “buy” rating to a “hold” rating and set a $24.90 price target for the company. in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nineteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.61.

Pinterest Trading Up 1.9%

Pinterest stock traded up $0.36 during midday trading on Wednesday, reaching $18.75. 7,117,227 shares of the stock traded hands, compared to its average volume of 19,782,068. The firm has a market cap of $12.47 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.93. The company has a 50-day simple moving average of $20.16 and a two-hundred day simple moving average of $26.34. Pinterest has a 12-month low of $13.84 and a 12-month high of $39.93.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Pinterest had a net margin of 9.87% and a return on equity of 7.95%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, insider Malik Ducard sold 2,293 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the completion of the sale, the insider owned 695,187 shares in the company, valued at $15,335,825.22. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 5,636 shares of company stock worth $131,614. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Pinterest by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 62,056,069 shares of the company’s stock valued at $1,606,632,000 after purchasing an additional 1,069,646 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Pinterest by 15.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,809,693 shares of the company’s stock worth $719,994,000 after buying an additional 3,669,476 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pinterest by 30.5% during the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after buying an additional 6,258,628 shares during the last quarter. State Street Corp increased its position in Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock valued at $556,432,000 after acquiring an additional 7,412,213 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Pinterest by 10.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 19,732,086 shares of the company’s stock valued at $634,767,000 after acquiring an additional 1,913,668 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.