Citigroup Has Lowered Expectations for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective cut by analysts at Citigroup from $47.00 to $38.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 46.19% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Wedbush raised their price target on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Raymond James lowered shares of Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. TD Cowen decreased their target price on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and raised their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $41.81.

Pinterest Stock Up 0.6 %

Shares of Pinterest stock opened at $25.99 on Monday. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The stock has a market cap of $17.63 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. The business has a fifty day simple moving average of $33.12 and a 200-day simple moving average of $32.07.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Analysts expect that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares in the company, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 452,686 shares of company stock worth $14,797,342 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD raised its holdings in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after buying an additional 4,527,902 shares during the last quarter. FMR LLC lifted its holdings in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock valued at $365,381,000 after buying an additional 316,633 shares during the period. Norges Bank bought a new position in Pinterest in the fourth quarter valued at approximately $358,205,000. Finally, Marshall Wace LLP grew its holdings in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock worth $310,352,000 after acquiring an additional 6,129,985 shares during the period. 88.81% of the stock is currently owned by 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.