KeyCorp Issues Pessimistic Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective reduced by equities research analysts at KeyCorp from $46.00 to $41.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 31.65% from the stock’s current price.

A number of other analysts have also commented on PINS. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, February 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Oppenheimer boosted their price objective on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Roth Capital set a $32.00 price objective on Pinterest in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.30.

Pinterest Price Performance

Pinterest stock opened at $31.14 on Tuesday. The firm has a market cap of $21.12 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.95 and a beta of 1.02. The stock’s 50 day moving average is $34.34 and its 200 day moving average is $32.29. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Equities analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,879 shares of company stock worth $3,653,577 over the last quarter. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter valued at $28,000. GAMMA Investing LLC increased its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Pinterest by 401.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock valued at $44,000 after buying an additional 1,204 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

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.