MKM Partners Upgrades Pinterest (NYSE:PINS) to Buy

Pinterest (NYSE:PINS) was upgraded by equities research analysts at MKM Partners from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a $66.00 price objective on the stock, up from their previous price objective of $35.00. MKM Partners’ price target suggests a potential upside of 34.01% from the stock’s previous close.

PINS has been the subject of several other reports. Pivotal Research raised shares of Pinterest from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $44.50 in a research note on Sunday, August 2nd. UBS Group raised Pinterest from a “neutral” rating to a “buy” rating and upped their price objective for the company from $23.00 to $42.00 in a research report on Friday, July 31st. JPMorgan Chase & Co. upgraded Pinterest from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $57.00 to $75.00 in a research report on Thursday. TheStreet upgraded shares of Pinterest from a “d” rating to a “c-” rating in a report on Monday, August 3rd. Finally, Morgan Stanley raised their price target on shares of Pinterest from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.59.

NYSE PINS opened at $49.25 on Thursday. The company has a fifty day moving average of $42.09 and a two-hundred day moving average of $29.21. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of -69.37 and a beta of 1.72. Pinterest has a 52 week low of $10.10 and a 52 week high of $53.87.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.26. Pinterest had a negative net margin of 32.88% and a negative return on equity of 20.50%. As a group, research analysts anticipate that Pinterest will post -0.53 EPS for the current fiscal year.

In other news, CEO Benjamin Silbermann sold 78,899 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $34.66, for a total value of $2,734,639.34. Following the completion of the sale, the chief executive officer now owns 78,899 shares of the company’s stock, valued at approximately $2,734,639.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Tseli Lily Yang sold 39,024 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $32.95, for a total value of $1,285,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 4,771,975 shares of company stock worth $181,738,690 in the last ninety days.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Pinterest by 30.3% in the 2nd quarter. Vanguard Group Inc. now owns 32,134,965 shares of the company’s stock worth $712,432,000 after purchasing an additional 7,469,357 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Pinterest by 11.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,967,222 shares of the company’s stock worth $243,143,000 after purchasing an additional 1,109,225 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Pinterest by 19.8% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 9,736,499 shares of the company’s stock worth $215,858,000 after purchasing an additional 1,610,661 shares in the last quarter. Morgan Stanley boosted its position in shares of Pinterest by 32.1% in the 1st quarter. Morgan Stanley now owns 4,240,887 shares of the company’s stock worth $65,479,000 after purchasing an additional 1,029,484 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Pinterest in the 2nd quarter worth $88,499,000. 54.51% of the stock is owned by hedge funds and other institutional investors.

Pinterest Company Profile

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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