Pinterest (NASDAQ:PINS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Pinterest (NASDAQ:PINS) from a hold rating to a sell rating in a research report released 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 research reports about the stock. UBS Group set a $15.00 price objective on shares of Hain Celestial Group and gave the company a sell rating in a research report on Monday, May 13th. Susquehanna Bancshares initiated coverage on shares of Pinterest in a research report on Monday, May 6th. They set a neutral rating and a $35.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Vermilion Energy from C$42.00 to C$43.00 in a research report on Monday, May 13th. Citigroup set a $13.00 price objective on shares of e.l.f. Beauty and gave the company a hold rating in a research report on Monday, May 13th. Finally, Wedbush initiated coverage on shares of Pinterest in a research report on Monday, June 17th. They set an outperform rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Pinterest has a consensus rating of Hold and a consensus price target of $29.94.

Shares of PINS traded up $0.55 during trading hours on Thursday, reaching $26.65. 13,713 shares of the company traded hands, compared to its average volume of 7,432,817. The firm has a fifty day moving average of $26.64. Pinterest has a 1-year low of $23.05 and a 1-year high of $35.29.

Pinterest (NASDAQ:PINS) last announced its quarterly earnings data on Thursday, May 16th. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.21). The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $200.64 million. Pinterest’s revenue for the quarter was up 54.1% on a year-over-year basis.

In other Pinterest news, Director Fredric G. Reynolds purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average price of $27.04 per share, with a total value of $1,081,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

An institutional investor recently bought a new position in Pinterest stock. Zweig DiMenna Associates LLC acquired a new position in shares of Pinterest (NASDAQ:PINS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 166,633 shares of the company’s stock, valued at approximately $4,536,000.

Pinterest Company Profile

There is no company description available for Pinterest Inc

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