Pinterest (NASDAQ:PINS) Earns “Buy” Rating from Citigroup

Citigroup restated their buy rating on shares of Pinterest (NASDAQ:PINS) in a research note published on Friday morning, The Fly reports. The brokerage currently has a $38.00 target price on the stock, up from their prior target price of $34.00.

PINS has been the subject of a number of other reports. Zacks Investment Research downgraded Pinterest from a hold rating to a sell rating in a research report on Friday, July 19th. Robert W. Baird initiated coverage on Pinterest in a research report on Monday, May 13th. They set an outperform rating and a $36.00 price target for the company. Wedbush initiated coverage on Pinterest in a research report on Monday, June 17th. They set an outperform rating and a $33.00 price target for the company. Barclays initiated coverage on Pinterest in a research report on Monday, May 13th. They set an equal weight rating and a $28.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on Pinterest in a research report on Monday, May 13th. They set a neutral rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $31.82.

Shares of Pinterest stock traded down $0.58 on Friday, hitting $32.99. The company had a trading volume of 212,528 shares, compared to its average volume of 6,935,136. Pinterest has a 1 year low of $23.05 and a 1 year high of $35.29. The stock’s 50 day simple moving average is $27.23.

Pinterest (NASDAQ:PINS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $237.23 million. Pinterest’s revenue was up 62.0% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in PINS. Quad Cities Investment Group LLC bought a new stake in Pinterest during the second quarter valued at $27,000. Steward Partners Investment Advisory LLC bought a new stake in Pinterest during the second quarter valued at $80,000. CenterStar Asset Management LLC bought a new stake in Pinterest during the second quarter valued at $91,000. SG Americas Securities LLC bought a new stake in Pinterest during the second quarter valued at $134,000. Finally, BNP Paribas Arbitrage SA bought a new stake in Pinterest during the second quarter valued at $216,000.

About Pinterest

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Analyst Recommendations for Pinterest (NASDAQ:PINS)

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