Monness Crespi & Hardt Lowers Pinterest (NYSE:PINS) Price Target to $40.00

Pinterest (NYSE:PINS) had its price objective trimmed by Monness Crespi & Hardt from $50.00 to $40.00 in a report issued on Friday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup reduced their target price on shares of Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Benchmark cut their price objective on shares of Pinterest from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $42.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. UBS Group cut their price target on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, KeyCorp reduced their price target on Pinterest from $41.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus target price of $40.27.

Pinterest Stock Up 4.9%

Shares of PINS stock opened at $29.23 on Friday. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19. The firm has a 50 day moving average price of $28.84 and a two-hundred day moving average price of $31.20. The company has a market capitalization of $19.82 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

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

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. The trade was a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the company’s stock in a transaction dated 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 directly owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. The trade was a 94.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 453,836 shares of company stock worth $14,828,392. Corporate insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PINS. Wilmington Savings Fund Society FSB acquired a new position in Pinterest in the 3rd quarter valued at approximately $87,000. GAMMA Investing LLC increased its holdings in 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 during the period. Graypoint LLC bought a new position in Pinterest during the 4th quarter worth $317,000. Claro Advisors LLC bought a new position in Pinterest during the 4th quarter worth $226,000. Finally, Pallas Capital Advisors LLC lifted its holdings in Pinterest by 49.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 23,304 shares of the company’s stock worth $676,000 after buying an additional 7,709 shares during the period. Institutional investors 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.