Pinterest (NASDAQ:PINS) Receives Average Rating of “Hold” from Brokerages

Pinterest (NASDAQ:PINS) has been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $32.53.

A number of analysts recently issued reports on PINS shares. Citigroup increased their price objective on Pinterest from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on Pinterest in a report on Monday, May 13th. They set a “neutral” rating and a $32.00 price objective on the stock. DA Davidson increased their price objective on Pinterest to $23.00 and gave the stock an “average” rating in a report on Monday, May 20th. Nomura increased their price objective on Pinterest from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Rosenblatt Securities reissued a “hold” rating and set a $31.00 price objective on shares of Pinterest in a report on Wednesday, August 7th.

Several large investors have recently added to or reduced their stakes in PINS. Quad Cities Investment Group LLC purchased a new stake in shares of Pinterest in the 2nd quarter valued at about $27,000. Pathstone Family Office LLC purchased a new stake in shares of Pinterest in the 2nd quarter valued at about $38,000. US Bancorp DE purchased a new stake in shares of Pinterest in the 2nd quarter valued at about $50,000. Crewe Advisors LLC purchased a new stake in shares of Pinterest in the 2nd quarter valued at about $54,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Pinterest in the 2nd quarter valued at about $57,000.

Shares of PINS stock traded down $0.93 on Friday, hitting $34.50. 4,880,536 shares of the stock were exchanged, compared to its average volume of 6,636,222. Pinterest has a one year low of $23.05 and a one year high of $36.83. The firm has a 50 day moving average price of $29.78.

Pinterest (NASDAQ:PINS) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $261.20 million for the quarter, compared to the consensus estimate of $237.23 million. The company’s revenue for the quarter was up 62.0% on a year-over-year basis.

Pinterest Company Profile

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Analyst Recommendations for Pinterest (NASDAQ:PINS)

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