Pinterest (NYSE:PINS) Stock Rating Upgraded by Phillip Securities

Pinterest (NYSE:PINS – Get Free Report) was upgraded by Phillip Securities to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Morgan Stanley raised their price target on shares of Pinterest from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Guggenheim lifted their price target on shares of Pinterest from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Pinterest from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Robert W. Baird boosted their price objective on shares of Pinterest from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Susquehanna reissued a “positive” rating on shares of Pinterest in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.90.

Check Out Our Latest Report on PINS

Pinterest Stock Up 1.9%

Shares of NYSE:PINS opened at $22.33 on Monday. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 65.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The company has a 50 day moving average of $20.92 and a two-hundred day moving average of $20.99. Pinterest has a 52-week low of $13.84 and a 52-week high of $35.42. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts forecast that Pinterest will post 0.58 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $21.56, for a total transaction of $1,010,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Claude Leonard Brown sold 12,240 shares of Pinterest stock in a transaction on Monday, October 5th. The stock was sold at an average price of $20.00, for a total transaction of $244,800.00. Following the completion of the sale, the insider owned 1,130,768 shares of the company’s stock, valued at approximately $22,615,360. This trade represents a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 644,952 shares of company stock worth $13,652,019 over the last three months. 8.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Net Worth Advisory Group bought a new stake in shares of Pinterest in the 3rd quarter worth about $302,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Pinterest by 17.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,067 shares of the company’s stock valued at $568,000 after purchasing an additional 4,387 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Pinterest by 110.9% in the 3rd quarter. IFP Advisors Inc now owns 3,511 shares of the company’s stock valued at $66,000 after purchasing an additional 1,846 shares in the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Pinterest in the 3rd quarter valued at about $45,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Pinterest by 300.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,398,316 shares of the company’s stock worth $83,084,000 after purchasing an additional 3,299,884 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

About Pinterest

(Get Free Report)

Pinterest, Inc (NYSE: PINS) operates a visual discovery platform that helps people find ideas and inspiration for activities such as home improvement, cooking, fashion, travel and event planning. Users can discover, save and organize images and videos—known as Pins—on personalized boards and explore recommendations based on their interests.

The company also provides tools for businesses and creators to showcase products and content on the platform. Its advertising business includes promoted Pins and other advertising formats designed to help marketers reach users while they are discovering ideas, researching products and planning purchases.

See Also

Analyst Recommendations for Pinterest (NYSE:PINS)

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.