Pinterest (NYSE:PINS) Trading 36.1% Higher on Better-Than-Expected Earnings

Pinterest (NYSE:PINS) shares rose 36.1% on Friday following a stronger than expected earnings report. The company traded as high as $34.55 and last traded at $34.29, approximately 111,331,492 shares changed hands during mid-day trading. An increase of 664% from the average daily volume of 14,565,480 shares. The stock had previously closed at $25.19.

The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.24. Pinterest had a negative net margin of 120.48% and a negative return on equity of 73.06%. The business had revenue of $272.30 million during the quarter, compared to the consensus estimate of $254.79 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year.

PINS has been the subject of a number of research reports. Barclays boosted their target price on shares of Pinterest from $20.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. Wedbush boosted their target price on shares of Pinterest from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Robert W. Baird decreased their target price on shares of Pinterest from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Goldman Sachs Group boosted their target price on shares of Pinterest from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. They noted that the move was a valuation call. Finally, Rosenblatt Securities restated a “hold” rating and set a $14.00 target price on shares of Pinterest in a research report on Wednesday, May 6th. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.27.

In related news, CEO Benjamin Silbermann sold 58,559 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $25.76, for a total transaction of $1,508,479.84. Following the transaction, the chief executive officer now directly owns 58,559 shares in the company, valued at $1,508,479.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Evan Sharp sold 62,500 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $24.98, for a total transaction of $1,561,250.00. Following the transaction, the insider now owns 62,500 shares in the company, valued at $1,561,250. The disclosure for this sale can be found here. Insiders have sold 983,025 shares of company stock valued at $21,910,436 in the last three months.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optas LLC boosted its position in Pinterest by 0.6% during the second quarter. Optas LLC now owns 75,453 shares of the company’s stock worth $1,673,000 after acquiring an additional 443 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Pinterest by 152.2% during the second quarter. Flagship Harbor Advisors LLC now owns 1,135 shares of the company’s stock worth $25,000 after acquiring an additional 685 shares during the last quarter. JBJ Investment Partners LLC boosted its position in Pinterest by 7.4% during the first quarter. JBJ Investment Partners LLC now owns 10,816 shares of the company’s stock worth $167,000 after acquiring an additional 744 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in Pinterest by 9.8% during the first quarter. Prime Capital Investment Advisors LLC now owns 10,110 shares of the company’s stock worth $156,000 after acquiring an additional 900 shares during the last quarter. Finally, Full Sail Capital LLC boosted its position in Pinterest by 10.0% during the first quarter. Full Sail Capital LLC now owns 11,000 shares of the company’s stock worth $218,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 46.20% of the company’s stock.

The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of -10.85 and a beta of 1.56. The business’s 50-day moving average is $23.92 and its two-hundred day moving average is $20.41.

Pinterest Company Profile (NYSE:PINS)

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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