Susquehanna Trims Pinterest (NYSE:PINS) Target Price to $45.00

Pinterest (NYSE:PINS) had its price target dropped by equities research analysts at Susquehanna from $50.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 32.35% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Loop Capital increased their price objective on Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of Pinterest in a research report on Wednesday, May 1st. Barclays lowered their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday. Sanford C. Bernstein upped their price target on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler lowered their price objective on Pinterest from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Pinterest Price Performance

Shares of PINS stock opened at $34.00 on Wednesday. The business has a 50-day moving average of $42.11 and a 200 day moving average of $38.53. The stock has a market capitalization of $23.23 billion, a PE ratio of 161.91, a P/E/G ratio of 3.65 and a beta of 0.97. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same period in the prior year, the business posted ($0.04) EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. Analysts anticipate that Pinterest will post 0.44 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total value of $168,795.50. Following the completion of the sale, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at approximately $8,317,733. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $43.90, for a total transaction of $168,795.50. Following the sale, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The disclosure for this sale can be found here. Insiders sold 50,250 shares of company stock worth $2,191,304 over the last three months. 7.11% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of Pinterest in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC raised its position in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 459 shares during the period. Rothschild Investment LLC purchased a new position in shares of Pinterest in the 2nd quarter worth approximately $35,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest in the 4th quarter worth approximately $30,000. Finally, International Assets Investment Management LLC purchased a new stake in Pinterest during the 2nd quarter valued at $40,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.