Pinterest (NYSE:PINS) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Pinterest (NYSE:PINS) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

According to Zacks, “Pinterest Inc. provides a visual discovery engine. 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. The company also provides Product Pins which make items shoppable with up-to-date pricing; Recipe Pins to cook a meal by bringing the relevant information; and Shop the Look, which enables pinners to shop for the individual products. Pinterest Inc. is based in San Francisco, California. “

A number of other equities research analysts have also commented on PINS. Wells Fargo & Co initiated coverage on Pinterest in a research report on Thursday, September 26th. They set a market perform rating and a $34.00 price target on the stock. Credit Suisse Group dropped their target price on Pinterest from $33.00 to $29.00 and set a neutral rating on the stock in a research report on Friday, November 1st. Nomura dropped their target price on Pinterest from $39.00 to $31.00 and set a buy rating on the stock in a research report on Friday, November 1st. Argus raised Pinterest from a hold rating to a buy rating and set a $40.00 target price on the stock in a research report on Thursday, August 15th. Finally, Robert W. Baird dropped their target price on Pinterest from $37.00 to $30.00 and set a buy rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Pinterest has an average rating of Hold and a consensus price target of $28.60.

Shares of NYSE PINS traded up $0.07 during mid-day trading on Thursday, reaching $20.06. 8,664,869 shares of the company’s stock were exchanged, compared to its average volume of 7,427,790. The company has a current ratio of 13.75, a quick ratio of 15.06 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $25.63 and a 200 day simple moving average of $28.10. Pinterest has a twelve month low of $18.71 and a twelve month high of $36.83.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.16. The business had revenue of $279.70 million for the quarter, compared to analyst estimates of $282.09 million. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Pinterest will post -3.38 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. NEXT Financial Group Inc increased its position in shares of Pinterest by 376.0% during the 3rd quarter. NEXT Financial Group Inc now owns 952 shares of the company’s stock worth $25,000 after purchasing an additional 752 shares during the last quarter. Quad Cities Investment Group LLC acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $27,000. Flagship Harbor Advisors LLC increased its position in shares of Pinterest by 73.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,062 shares of the company’s stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Endurance Wealth Management Inc. acquired a new position in shares of Pinterest during the 3rd quarter worth approximately $30,000. Finally, Pathstone Family Office LLC acquired a new position in shares of Pinterest during the 2nd quarter worth approximately $38,000. 14.52% of the stock is currently owned by hedge funds and other institutional investors.

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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