Pinterest (NYSE:PINS) Price Target Raised to $25.00 at Citigroup

Pinterest (NYSE:PINSGet Rating) had its price objective boosted by Citigroup from $24.00 to $25.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

PINS has been the subject of several other reports. Atlantic Securities set a $22.00 price target on shares of Pinterest in a research report on Tuesday, July 19th. DA Davidson decreased their price target on shares of Pinterest from $33.00 to $20.00 in a research report on Thursday, April 28th. Wedbush decreased their price target on shares of Pinterest from $39.00 to $26.00 in a research report on Thursday, April 28th. KeyCorp decreased their price target on shares of Pinterest from $36.00 to $24.00 and set an overweight rating for the company in a research report on Tuesday, July 26th. Finally, TheStreet cut shares of Pinterest from a c rating to a d+ rating in a research report on Tuesday, May 31st. Nineteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $29.76.

Pinterest Price Performance

PINS stock opened at $22.55 on Tuesday. The company has a 50 day simple moving average of $19.58 and a 200 day simple moving average of $22.57. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 72.74, a P/E/G ratio of 13.36 and a beta of 1.19. Pinterest has a 1 year low of $16.14 and a 1 year high of $66.00.

Pinterest (NYSE:PINSGet Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The company had revenue of $666.00 million for the quarter, compared to analyst estimates of $663.19 million. Pinterest had a return on equity of 8.35% and a net margin of 8.10%. Pinterest’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, equities research analysts anticipate that Pinterest will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, SVP Naveen Gavini sold 5,491 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the transaction, the senior vice president now directly owns 529,551 shares of the company’s stock, valued at $10,591,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Naveen Gavini sold 5,491 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $20.00, for a total value of $109,820.00. Following the completion of the sale, the senior vice president now owns 529,551 shares in the company, valued at $10,591,020. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Evan Sharp sold 422,399 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 548,619 shares of company stock valued at $10,307,146. Corporate insiders own 7.58% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the company. Harris Associates L P increased its holdings in Pinterest by 19,142.5% during the first quarter. Harris Associates L P now owns 18,558,778 shares of the company’s stock worth $456,731,000 after buying an additional 18,462,331 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after buying an additional 8,341,222 shares during the last quarter. Norges Bank purchased a new stake in Pinterest during the fourth quarter worth about $178,278,000. Flossbach Von Storch AG increased its holdings in Pinterest by 15.5% during the first quarter. Flossbach Von Storch AG now owns 31,376,971 shares of the company’s stock worth $772,187,000 after buying an additional 4,211,422 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Pinterest by 909.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,222,151 shares of the company’s stock worth $153,475,000 after buying an additional 3,803,813 shares during the last quarter. Hedge funds and other institutional investors own 63.76% of the company’s stock.

Pinterest Company Profile

(Get Rating)

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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