Zacks Investment Research Lowers Pinterest (NYSE:PINS) to Sell

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Zacks Investment Research downgraded shares of Pinterest (NYSE:PINS) from a hold rating to a sell rating in a research note issued to investors 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. “

Other research analysts have also issued reports about the company. Royal Bank of Canada dropped their price objective on Pinterest from $35.00 to $32.00 and set an outperform rating for the company in a research note on Friday, November 1st. Argus upgraded Pinterest from a hold rating to a buy rating and set a $40.00 price objective for the company in a research note on Thursday, August 15th. Robert W. Baird dropped their price objective on Pinterest from $37.00 to $30.00 and set a buy rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. dropped their price objective on Pinterest from $34.00 to $23.00 and set a neutral rating for the company in a research note on Friday, November 1st. Finally, MKM Partners dropped their price objective on Pinterest from $29.00 to $22.00 and set a neutral rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Pinterest presently has a consensus rating of Hold and a consensus target price of $28.60.

Shares of NYSE PINS traded up $0.07 during trading hours on Thursday, reaching $20.06. The stock had a trading volume of 8,664,869 shares, compared to its average volume of 7,427,790. The business’s fifty day moving average is $25.63 and its two-hundred day moving average is $28.10. The company has a debt-to-equity ratio of 0.08, a quick ratio of 15.06 and a current ratio of 13.75. 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 data on Thursday, October 31st. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.16. The company had revenue of $279.70 million for the quarter, compared to analyst estimates of $282.09 million. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts expect that Pinterest will post -3.38 EPS for the current year.

Large investors have recently made changes to their positions in the company. NEXT Financial Group Inc increased its stake in shares of Pinterest by 376.0% in the third quarter. NEXT Financial Group Inc now owns 952 shares of the company’s stock valued at $25,000 after buying an additional 752 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in Pinterest in the second quarter valued at about $27,000. Flagship Harbor Advisors LLC boosted its holdings in Pinterest by 73.5% in the third quarter. Flagship Harbor Advisors LLC now owns 1,062 shares of the company’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Endurance Wealth Management Inc. bought a new position in Pinterest in the third quarter valued at about $30,000. Finally, Pathstone Family Office LLC bought a new position in Pinterest in the second quarter valued at about $38,000. Institutional investors own 14.52% of the company’s stock.

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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