Pinterest (NASDAQ:PINS) Stock Price Down 6.4%

Pinterest (NASDAQ:PINS) was down 6.4% during mid-day trading on Wednesday . The stock traded as low as $32.14 and last traded at $32.23, approximately 3,889,724 shares changed hands during trading. A decline of 43% from the average daily volume of 6,778,207 shares. The stock had previously closed at $34.42.

Several analysts have issued reports on PINS shares. Nomura upped their price target on shares of Pinterest from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. began coverage on shares of Pinterest in a research note on Monday, May 13th. They issued a “neutral” rating and a $32.00 price target on the stock. Argus began coverage on shares of Pinterest in a research note on Friday, May 10th. They set a “hold” rating on the stock. Citigroup increased their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird started coverage on shares of Pinterest in a report on Monday, May 13th. They issued an “outperform” rating and a $36.00 target price for the company. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Pinterest presently has a consensus rating of “Hold” and a consensus target price of $32.11.

The company has a fifty day moving average price of $28.57.

Pinterest (NASDAQ:PINS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. The company’s revenue was up 62.0% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the company. Quad Cities Investment Group LLC acquired a new stake in shares of Pinterest during the 2nd quarter worth approximately $27,000. Pathstone Family Office LLC acquired a new stake in Pinterest in the 2nd quarter valued at $38,000. US Bancorp DE acquired a new stake in Pinterest in the 2nd quarter valued at $50,000. Crewe Advisors LLC acquired a new stake in Pinterest in the 2nd quarter valued at $54,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Pinterest in the 2nd quarter valued at $57,000.

Pinterest Company Profile (NASDAQ:PINS)

There is no company description available for Pinterest Inc

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