Pinterest (NYSE:PINS) PT Raised to $35.00 at MKM Partners

Pinterest (NYSE:PINS) had its price target hoisted by MKM Partners from $26.00 to $35.00 in a report released on Monday morning, The Fly reports.

A number of other brokerages have also recently weighed in on PINS. Goldman Sachs Group upped their price target on shares of Pinterest from $17.00 to $26.00 and gave the stock a neutral rating in a research report on Monday, July 20th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a buy rating and issued a $27.00 target price on shares of Pinterest in a research report on Sunday, May 3rd. Morgan Stanley raised their target price on Pinterest from $26.00 to $34.00 and gave the company an equal weight rating in a report on Monday. Rosenblatt Securities boosted their price objective on shares of Pinterest from $21.00 to $30.00 and gave the stock a neutral rating in a report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Pinterest from $26.00 to $37.00 and gave the stock a neutral rating in a report on Monday. Fourteen equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pinterest presently has an average rating of Buy and an average price target of $30.56.

Shares of NYSE:PINS traded down $1.20 during trading on Monday, reaching $34.88. 792,614 shares of the stock were exchanged, compared to its average volume of 16,495,442. The firm’s 50-day moving average price is $24.73 and its 200 day moving average price is $20.63. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of -50.82 and a beta of 1.95. Pinterest has a 12-month low of $10.10 and a 12-month high of $37.33. The company has a debt-to-equity ratio of 0.08, a quick ratio of 11.60 and a current ratio of 11.60.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Friday, July 31st. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.24. Pinterest had a negative net margin of 32.88% and a negative return on equity of 20.33%. The firm had revenue of $272.30 million for the quarter, compared to analysts’ expectations of $254.79 million. During the same period in the previous year, the company posted ($0.06) earnings per share. Pinterest’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Pinterest will post -0.76 EPS for the current year.

In related news, insider Evan Sharp sold 62,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $24.98, for a total value of $1,561,250.00. Following the sale, the insider now directly owns 62,500 shares in the company, valued at approximately $1,561,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christine Flores sold 15,677 shares of Pinterest stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $19.16, for a total value of $300,371.32. The disclosure for this sale can be found here. Insiders have sold 916,525 shares of company stock valued at $20,485,341 in the last 90 days.

A number of hedge funds have recently bought and sold shares of PINS. NN Investment Partners Holdings N.V. bought a new position in Pinterest in the 2nd quarter valued at about $3,029,000. Leap Investments LP bought a new stake in shares of Pinterest during the 2nd quarter worth about $308,000. Comerica Bank acquired a new stake in shares of Pinterest in the 2nd quarter worth approximately $441,000. Sigma Planning Corp boosted its holdings in shares of Pinterest by 41.0% in the second quarter. Sigma Planning Corp now owns 40,531 shares of the company’s stock valued at $899,000 after acquiring an additional 11,789 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Pinterest during the second quarter valued at approximately $475,000. 46.20% of the stock is owned by institutional investors and hedge funds.

About Pinterest

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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