Zacks Investment Research Lowers Pinterest (NASDAQ:PINS) to Sell

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Zacks Investment Research cut shares of Pinterest (NASDAQ:PINS) from a hold rating to a sell rating in a report issued 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 reports about the stock. Susquehanna Bancshares began coverage on shares of Pinterest in a research note on Monday, May 6th. They issued a neutral rating and a $35.00 price target for the company. Wedbush started coverage on shares of Pinterest in a research note on Monday, June 17th. They issued an outperform rating and a $33.00 price target for the company. Rosenblatt Securities started coverage on shares of Pinterest in a research note on Wednesday, May 8th. They set a neutral rating and a $32.00 price objective for the company. Atlantic Securities started coverage on shares of Pinterest in a research note on Tuesday, April 9th. They set an overweight rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vermilion Energy from C$42.00 to C$43.00 in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Pinterest currently has an average rating of Hold and an average price target of $29.94.

Shares of Pinterest stock opened at $26.41 on Thursday. The stock has a 50-day simple moving average of $26.69. Pinterest has a 1 year low of $23.05 and a 1 year high of $35.29.

Pinterest (NASDAQ:PINS) last issued its quarterly earnings results on Thursday, May 16th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.21). The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $200.64 million. Pinterest’s revenue for the quarter was up 54.1% compared to the same quarter last year.

In other news, Director Fredric G. Reynolds acquired 40,000 shares of Pinterest stock in a transaction on Tuesday, April 23rd. The stock was acquired at an average cost of $27.04 per share, for a total transaction of $1,081,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

A hedge fund recently bought a new stake in Pinterest stock. Zweig DiMenna Associates LLC purchased a new stake in shares of Pinterest (NASDAQ:PINS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 166,633 shares of the company’s stock, valued at approximately $4,536,000.

About Pinterest

There is no company description available for Pinterest Inc

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