Pinterest’s (PINS) Neutral Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Pinterest (NYSE:PINS) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $24.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird upped their target price on shares of Pinterest from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Pinterest in a research note on Wednesday. DA Davidson assumed coverage on Pinterest in a report on Wednesday, July 8th. They set a “buy” rating and a $26.00 price objective on the stock. Royal Bank Of Canada upped their price objective on Pinterest from $23.00 to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on Pinterest from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Seventeen research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.90.

Pinterest Price Performance

Shares of Pinterest stock opened at $23.73 on Wednesday. Pinterest has a 1-year low of $13.84 and a 1-year high of $38.57. The firm has a fifty day simple moving average of $22.12 and a 200-day simple moving average of $20.48. The company has a current ratio of 3.81, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 69.80, a PEG ratio of 1.25 and a beta of 0.90.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a return on equity of 7.49% and a net margin of 5.46%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts expect that Pinterest will post 0.63 earnings per share for the current year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 59,096 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.48, for a total value of $1,387,574.08. Following the completion of the transaction, the chief financial officer owned 817,409 shares of the company’s stock, valued at approximately $19,192,763.32. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 429,816 shares of company stock worth $9,280,201 in the last quarter. Corporate insiders own 8.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Revolve Wealth Partners LLC acquired a new stake in shares of Pinterest in the 4th quarter valued at $252,000. Integrated Wealth Concepts LLC boosted its stake in Pinterest by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 10,943 shares of the company’s stock valued at $339,000 after buying an additional 607 shares in the last quarter. Empowered Funds LLC boosted its stake in Pinterest by 45.6% in the first quarter. Empowered Funds LLC now owns 15,168 shares of the company’s stock valued at $470,000 after buying an additional 4,748 shares in the last quarter. Sivia Capital Partners LLC grew its position in Pinterest by 39.5% in the second quarter. Sivia Capital Partners LLC now owns 9,347 shares of the company’s stock valued at $335,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Pinterest in the second quarter valued at about $696,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Key Stories Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
• Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
• Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
• Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
• Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

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.