Investing

Goldman Sachs Maintains Pinterest Buy Recommendation

George Maybach

Published: July 19, 2023 7:30 am

Last Updated: July 19, 2023 10:39 am

Fintel reports that on July 18, 2023, Goldman Sachs maintained coverage of Pinterest Inc – (NYSE:PINS) with a Buy recommendation.

Analyst Price Forecast Suggests 3.16% Downside

As of July 6, 2023, the average one-year price target for Pinterest Inc – is 29.35. The forecasts range from a low of 19.19 to a high of $40.95. The average price target represents a decrease of 3.16% from its latest reported closing price of 30.31.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Pinterest Inc – is 3,299MM, an increase of 16.56%. The projected annual non-GAAP EPS is 0.79.

What is the Fund Sentiment?

There are 1220 funds or institutions reporting positions in Pinterest Inc -. This is an increase of 35 owner(s) or 2.95% in the last quarter. Average portfolio weight of all funds dedicated to PINS is 0.34%, a decrease of 6.77%. Total shares owned by institutions decreased in the last three months by 1.98% to 592,468K shares. The put/call ratio of PINS is 0.54, indicating a bullish outlook.

What are Other Shareholders Doing?

Elliott Investment Management holds 27,913K shares representing 4.08% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 25,744K shares representing 3.77% ownership of the company. In it’s prior filing, the firm reported owning 20,074K shares, representing an increase of 22.02%. The firm increased its portfolio allocation in PINS by 34.04% over the last quarter.

Barclays holds 24,388K shares representing 3.57% ownership of the company. In it’s prior filing, the firm reported owning 27,161K shares, representing a decrease of 11.37%. The firm increased its portfolio allocation in PINS by 103,253.90% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,402K shares representing 2.69% ownership of the company. In it’s prior filing, the firm reported owning 17,849K shares, representing an increase of 3.01%. The firm increased its portfolio allocation in PINS by 6.92% over the last quarter.

Harris Associates L P holds 18,334K shares representing 2.68% ownership of the company. In it’s prior filing, the firm reported owning 25,637K shares, representing a decrease of 39.83%. The firm decreased its portfolio allocation in PINS by 24.60% over the last quarter.

Pinterest Background Information
(This description is provided by the company.)

Pinterest is a visual discovery engine people use to find inspiration for their lives, including recipes, home and style ideas, travel destinations and more. People have saved more than 240 billion Pins across a range of interests, which others with similar tastes can discover through search and recommendations. Headquartered in San Francisco, Pinterest launched in 2010 and has hundreds of millions of monthly active users around the world.

This article originally appeared on Fintel