BMO Capital Markets Boosts Pinterest (NYSE:PINS) Price Target to $46.00

Pinterest (NYSE:PINS) had its price target boosted by BMO Capital Markets from $45.00 to $46.00 in a research report released on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on PINS. Roth Mkm lifted their price objective on Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Benchmark reaffirmed a hold rating on shares of Pinterest in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday. Susquehanna upped their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada increased their price target on shares of Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Price Performance

Shares of NYSE PINS opened at $40.40 on Wednesday. The stock has a fifty day moving average price of $34.79 and a 200 day moving average price of $34.48. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The company has a market cap of $27.43 billion, a PE ratio of 192.39, a P/E/G ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Analysts anticipate that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. In the last three months, insiders sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PINS. Vanguard Group Inc. raised its position in shares of Pinterest by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after purchasing an additional 1,439,595 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Pinterest by 43.9% during the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after buying an additional 2,548,925 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after acquiring an additional 1,043,173 shares in the last quarter. Finally, Capital World Investors grew its holdings in Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock worth $329,179,000 after acquiring an additional 64,270 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.