Fintel reports that on September 20, 2023, Citigroup upgraded their outlook for Pinterest Inc – (NYSE:PINS) from Neutral to Buy.

Analyst Price Forecast Suggests 24.16% Upside

As of August 31, 2023, the average one-year price target for Pinterest Inc – is 32.54. The forecasts range from a low of 24.24 to a high of $47.25. The average price target represents an increase of 24.16% from its latest reported closing price of 26.21.

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

The projected annual revenue for Pinterest Inc – is 3,299MM, an increase of 14.85%. The projected annual non-GAAP EPS is 0.79.

What is the Fund Sentiment?

There are 1144 funds or institutions reporting positions in Pinterest Inc -. This is a decrease of 36 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to PINS is 0.30%, a decrease of 5.45%. Total shares owned by institutions decreased in the last three months by 5.47% to 558,493K shares. The put/call ratio of PINS is 0.71, indicating a bullish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 32,959K shares representing 4.92% ownership of the company. In it’s prior filing, the firm reported owning 25,744K shares, representing an increase of 21.89%. The firm increased its portfolio allocation in PINS by 169.56% over the last quarter.

Elliott Investment Management holds 28,000K shares representing 4.18% ownership of the company. In it’s prior filing, the firm reported owning 27,913K shares, representing an increase of 0.31%. The firm increased its portfolio allocation in PINS by 19.61% over the last quarter.

Macquarie Group holds 20,764K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 18,300K shares, representing an increase of 11.87%. The firm increased its portfolio allocation in PINS by 17.62% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,547K shares representing 2.77% ownership of the company. In it’s prior filing, the firm reported owning 18,402K shares, representing an increase of 0.78%. The firm decreased its portfolio allocation in PINS by 6.77% over the last quarter.

Barclays holds 17,256K shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 24,388K shares, representing a decrease of 41.33%. The firm decreased its portfolio allocation in PINS by 2.50% 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

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