Barclays Cuts Pinterest (NYSE:PINS) Price Target to $38.00

Pinterest (NYSE:PINS) had its price objective reduced by Barclays from $42.00 to $38.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on PINS. Benchmark cut their target price on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Bank of America decreased their target price on Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Rosenblatt Securities lifted their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley lowered their target price on shares of Pinterest from $42.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.27.

Pinterest Stock Performance

Shares of PINS opened at $29.23 on Friday. The company has a market capitalization of $19.82 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83. The stock has a 50-day moving average price of $28.84 and a 200 day moving average price of $31.20. Pinterest has a one year low of $23.68 and a one year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $31.16, for a total value of $3,180,906.28. Following the completion of the transaction, the director now owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. This represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares in the company, valued at $8,350,831.35. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 453,836 shares of company stock valued at $14,828,392. Insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in Pinterest during the 1st quarter valued at about $25,000. Garde Capital Inc. bought a new position in shares of Pinterest in the first quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Pinterest during the fourth quarter valued at approximately $28,000. NBC Securities Inc. raised its holdings in Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after purchasing an additional 999 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in Pinterest in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

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.