Pinterest (NASDAQ:PINS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, 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 equities research analysts have also issued reports about the company. Vertical Group lowered Domtar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada upped their price objective on NVIDIA to $200.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Susquehanna Bancshares initiated coverage on Pinterest in a report on Monday, May 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Citigroup set a $13.00 price objective on e.l.f. Beauty and gave the stock a “hold” rating in a report on Monday, May 13th. Finally, Deutsche Bank raised RDS-A from a “hold” rating to a “buy” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Pinterest presently has an average rating of “Hold” and an average target price of $29.94.

NASDAQ PINS opened at $26.41 on Thursday. Pinterest has a one year low of $23.05 and a one year high of $35.29. The stock’s 50 day simple moving average is $26.69.

Pinterest (NASDAQ:PINS) last released its quarterly earnings results 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 company had revenue of $201.90 million during the quarter, compared to analyst estimates of $200.64 million. The business’s revenue for the quarter was up 54.1% compared to the same quarter last year.

In related news, Director Fredric G. Reynolds purchased 40,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were bought at an average price of $27.04 per share, with a total value of $1,081,600.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

An institutional investor recently bought a new position in Pinterest stock. Zweig DiMenna Associates LLC purchased a new stake in Pinterest (NASDAQ:PINS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 166,633 shares of the company’s stock, valued at approximately $4,536,000.

Pinterest Company Profile

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