Monday, 2 October 2023

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RBC Capital Sticks to Its Hold Rating for Pinterest (PINS) – TipRanks Financial Blog

DoorDash price target lowered to $70 from $100 at RBC Capital

In a report released on September 18, Brad Erickson from RBC Capital maintained a Hold rating on Pinterest (PINSResearch Report), with a price target of $30.00. The company’s shares closed yesterday at $26.21.

According to TipRanks, Erickson is a 5-star analyst with an average return of 18.6% and a 52.16% success rate. Erickson covers the Technology sector, focusing on stocks such as Pinterest, Wix, and Amazon.

In addition to RBC Capital, Pinterest also received a Hold from Bernstein’s Mark Shmulik in a report issued on September 18. However, on the same day, KeyBanc maintained a Buy rating on Pinterest (NYSE: PINS).

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Based on Pinterest’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $708.03 million and a GAAP net loss of $34.94 million. In comparison, last year the company earned a revenue of $665.93 million and had a GAAP net loss of $43.08 million

Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PINS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2000, California-based Pinterest, Inc. provides a visual discovery engine in the United States and internationally. The company operates a pinboard-style photo-sharing website and allows users to create and manage theme-based image collections such as events, interests, and hobbies.

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