BMO Capital Markets Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price target decreased by investment analysts at BMO Capital Markets from $46.00 to $40.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 36.85% from the stock’s previous close.

A number of other research firms have also weighed in on PINS. UBS Group cut their target price on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Raymond James downgraded Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. TD Cowen dropped their price target on Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Bank of America dropped their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.27.

Pinterest Price Performance

Shares of NYSE:PINS opened at $29.23 on Friday. The stock 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 business has a 50-day moving average of $28.84 and a two-hundred day moving average of $31.21. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last posted its 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). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The company had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, research analysts expect that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the sale, the director now directly owns 29,086 shares of the company’s stock, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 453,836 shares of company stock worth $14,828,392. Insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest in the first quarter worth about $25,000. Garde Capital Inc. acquired a new position in Pinterest in the first quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in Pinterest during the 4th quarter worth $28,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 415 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in shares of Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after purchasing an additional 999 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

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.