Pinterest’s (NYSE:PINS) lock-up period will end on Tuesday, October 15th. Pinterest had issued 75,000,000 shares in its initial public offering on April 18th. The total size of the offering was $1,425,000,000 based on an initial share price of $19.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
PINS has been the subject of several research analyst reports. Deutsche Bank raised Pinterest from a “hold” rating to a “buy” rating and lifted their price objective for the company from $26.00 to $40.00 in a research note on Friday, August 2nd. Argus upgraded Pinterest from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, August 15th. Rosenblatt Securities restated a “hold” rating and set a $31.00 price target on shares of Pinterest in a research report on Wednesday, August 7th. Pivotal Research restated a “hold” rating and set a $32.00 price target (up previously from $29.00) on shares of Pinterest in a research report on Friday, August 2nd. Finally, Wells Fargo & Co assumed coverage on Pinterest in a research report on Thursday, September 26th. They set a “market perform” rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.60.
Shares of PINS traded down $0.30 during trading hours on Monday, hitting $26.59. The company had a trading volume of 72,559 shares, compared to its average volume of 4,336,631. The company has a current ratio of 15.06, a quick ratio of 15.06 and a debt-to-equity ratio of 0.08. Pinterest has a 52-week low of $23.05 and a 52-week high of $36.83. The company’s 50 day moving average is $29.88.
Pinterest (NYSE:PINS) last posted its earnings results on Thursday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The business had revenue of $261.20 million during the quarter, compared to the consensus estimate of $237.23 million. Pinterest’s revenue was up 62.0% compared to the same quarter last year. Equities research analysts forecast that Pinterest will post -3.1 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quad Cities Investment Group LLC bought a new stake in shares of Pinterest in the 2nd quarter worth approximately $27,000. Pathstone Family Office LLC purchased a new stake in Pinterest during the 2nd quarter valued at $38,000. US Bancorp DE purchased a new stake in Pinterest during the 2nd quarter valued at $50,000. Crewe Advisors LLC purchased a new stake in Pinterest during the 2nd quarter valued at $54,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Pinterest during the 2nd quarter valued at $57,000. 14.40% of the stock is currently owned by institutional investors.
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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