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

Pinterest (NYSE:PINS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Pinterest from $34.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. UBS Group set a $28.00 price target on Pinterest and gave the stock a “hold” rating in a research report on Friday, November 1st. Robert W. Baird dropped their price target on Pinterest from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Susquehanna Bancshares lowered their price objective on Pinterest from $36.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, MKM Partners lowered their price objective on Pinterest from $29.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One research 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. Pinterest has a consensus rating of “Hold” and an average price target of $28.60.

PINS traded up $0.07 during midday trading on Thursday, hitting $20.06. 8,664,869 shares of the company traded hands, compared to its average volume of 7,427,790. The company has a debt-to-equity ratio of 0.08, a current ratio of 13.75 and a quick ratio of 15.06. The company’s 50-day moving average is $25.63 and its 200 day moving average is $28.10. Pinterest has a 52 week low of $18.71 and a 52 week high of $36.83.

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Pinterest (NYSE:PINS) last posted its earnings results on Thursday, October 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.16. The company had revenue of $279.70 million for the quarter, compared to the consensus estimate of $282.09 million. The business’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, analysts predict that Pinterest will post -3.38 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new position in Pinterest during the 2nd quarter worth approximately $50,000. Atika Capital Management LLC acquired a new stake in Pinterest during the 2nd quarter worth approximately $4,681,000. Financial Advocates Investment Management acquired a new stake in Pinterest during the 2nd quarter worth approximately $507,000. Morgan Stanley acquired a new stake in Pinterest during the 2nd quarter worth approximately $69,076,000. Finally, Canyon Capital Advisors LLC acquired a new stake in Pinterest during the 2nd quarter worth approximately $13,264,000. 14.52% of the stock is currently owned by 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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Analyst Recommendations for Pinterest (NYSE:PINS)

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