Benchmark Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price lowered by analysts at Benchmark from $39.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 77.25% from the stock’s previous close.

A number of other equities research analysts have also recently commented on PINS. JPMorgan Chase & Co. decreased their target price on shares of Pinterest from $44.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley lifted their target price on Pinterest from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada cut their price objective on shares of Pinterest from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. KeyCorp lowered their target price on shares of Pinterest from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Finally, Guggenheim decreased their price target on shares of Pinterest from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

Pinterest Stock Down 5.6%

Shares of Pinterest stock traded down $1.15 during trading hours on Wednesday, reaching $19.18. 4,410,909 shares of the stock traded hands, compared to its average volume of 14,594,518. Pinterest has a one year low of $19.05 and a one year high of $39.93. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 0.88 and a beta of 0.92. The company has a 50 day moving average price of $25.25 and a 200 day moving average price of $30.30.

Insider Activity

In other news, insider Malik Ducard sold 2,293 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $22.06, for a total transaction of $50,583.58. Following the transaction, the insider owned 695,187 shares in the company, valued at approximately $15,335,825.22. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 22,821 shares of Pinterest stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $25.86, for a total value of $590,151.06. Following the completion of the sale, the chief financial officer owned 540,358 shares of the company’s stock, valued at $13,973,657.88. The trade was a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,407 shares of company stock valued at $855,925 in the last 90 days. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC boosted its holdings in Pinterest by 4.4% in the second quarter. Snowden Capital Advisors LLC now owns 7,046 shares of the company’s stock valued at $253,000 after purchasing an additional 296 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Pinterest by 10.1% during the second quarter. Penserra Capital Management LLC now owns 3,259 shares of the company’s stock worth $115,000 after acquiring an additional 300 shares during the period. EP Wealth Advisors LLC raised its position in Pinterest by 3.9% during the second quarter. EP Wealth Advisors LLC now owns 9,483 shares of the company’s stock valued at $340,000 after acquiring an additional 358 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its holdings in Pinterest by 3.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 10,302 shares of the company’s stock valued at $369,000 after acquiring an additional 359 shares during the period. Finally, Dynamic Wealth Strategies LLC lifted its holdings in Pinterest by 5.8% in the second quarter. Dynamic Wealth Strategies LLC now owns 6,596 shares of the company’s stock valued at $237,000 after acquiring an additional 361 shares during the period. 88.81% of the stock is currently owned by institutional investors.

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.