Pinterest (NYSE:PINS) Stock Rating Upgraded by UBS Group

Pinterest (NYSE:PINS) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a $42.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 22.48% from the stock’s current price.

PINS has been the subject of several other research reports. Nomura dropped their price objective on shares of Pinterest from $32.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Argus downgraded Pinterest from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on Pinterest from $17.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Pivotal Research increased their price target on Pinterest from $19.50 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Barclays increased their price target on Pinterest from $20.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.27.

Shares of NYSE PINS traded up $9.10 during mid-day trading on Friday, reaching $34.29. The company had a trading volume of 111,863,722 shares, compared to its average volume of 10,902,758. The stock has a fifty day moving average of $23.92 and a two-hundred day moving average of $20.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 11.60 and a current ratio of 11.60. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of -10.85 and a beta of 1.56. Pinterest has a 12-month low of $10.10 and a 12-month high of $36.83.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Friday, July 31st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.24. Pinterest had a negative return on equity of 73.06% and a negative net margin of 120.48%. The company had revenue of $272.30 million for the quarter, compared to the consensus estimate of $254.79 million. During the same quarter last year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Pinterest will post -0.76 earnings per share for the current fiscal year.

In other news, CFO Todd R. Morgenfeld sold 36,233 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $18.59, for a total value of $673,571.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Evan Sharp sold 62,500 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $26.93, for a total value of $1,683,125.00. Following the completion of the transaction, the insider now owns 62,500 shares of the company’s stock, valued at approximately $1,683,125. The disclosure for this sale can be found here. In the last quarter, insiders sold 983,025 shares of company stock worth $21,910,436.

Institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted its position in Pinterest by 148.0% during the first quarter. US Bancorp DE now owns 5,575 shares of the company’s stock valued at $87,000 after purchasing an additional 3,327 shares in the last quarter. BlackRock Inc. lifted its position in Pinterest by 19.6% in the first quarter. BlackRock Inc. now owns 6,597,607 shares of the company’s stock worth $101,865,000 after buying an additional 1,081,959 shares during the last quarter. NEXT Financial Group Inc lifted its position in Pinterest by 8,544.2% in the first quarter. NEXT Financial Group Inc now owns 4,495 shares of the company’s stock worth $69,000 after buying an additional 4,443 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Pinterest during the first quarter worth $5,931,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in shares of Pinterest during the second quarter worth $419,000. 46.20% of the stock is owned by institutional investors and hedge funds.

Pinterest Company Profile

Pinterest, Inc provides a visual discovery engine that helps users to discover ideas for various projects and interests worldwide. Its platform allows users to discover ideas for daily activities, remodeling a house or training for a marathon, ongoing passions, and planning a wedding or a dream vacation.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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