In a report released yesterday, Michael Levine CFA from Pivotal Research upgraded Pinterest (PINS) to Buy, with a price target of $44.50. The company’s shares closed last Friday at $34.29, close to its 52-week high of $36.83.
According to TipRanks.com, CFA is a 5-star analyst with an average return of 26.6% and a 73.0% success rate. CFA covers the Technology sector, focusing on stocks such as Facebook, Alphabet, and Twitter.
Pinterest has an analyst consensus of Moderate Buy, with a price target consensus of $29.21, which is a -13.0% downside from current levels. In a report issued on July 21, Deutsche Bank also maintained a Buy rating on the stock with a $29.00 price target.
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Based on Pinterest’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $272 million and GAAP net loss of $141 million. In comparison, last year the company earned revenue of $202 million and had a GAAP net loss of $41.42 million.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PINS in relation to earlier this year.
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Pinterest, Inc. engages in the operation of a pinboard-style photo-sharing website. It allows users to create and manage theme-based image collections such as events, interests, and hobbies. The company was founded by Benjamin Silbermann, Paul C. Sciarra, and Evan Sharp in October 2008 and is headquartered in San Francisco, CA.
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