Barclays analyst Ross Sandler maintained a Hold rating on Pinterest (PINS – Research Report) on April 28 and set a price target of $24.00. The company’s shares closed last Friday at $20.52, close to its 52-week low of $18.32.
According to TipRanks.com, Sandler is a 5-star analyst with an average return of 11.1% and a 60.4% success rate. Sandler covers the Technology sector, focusing on stocks such as NerdWallet, Inc. Class A, Uber Technologies, and Robinhood Markets.
Currently, the analyst consensus on Pinterest is a Moderate Buy with an average price target of $31.57, a 48.4% upside from current levels. In a report issued on April 19, Rosenblatt Securities also initiated coverage with a Hold rating on the stock with a $21.00 price target.
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Based on Pinterest’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $847 million and net profit of $175 million. In comparison, last year the company earned revenue of $706 million and had a net profit of $208 million.
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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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