Pinterest (NYSE:PINS) Price Target Raised to $50.00

Pinterest (NYSE:PINS) had its price objective increased by Piper Sandler from $48.00 to $50.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

PINS has been the topic of several other research reports. Wedbush lifted their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday. Stifel Nicolaus boosted their target price on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Rosenblatt Securities reissued a buy rating and issued a $48.00 price target (up from $45.00) on shares of Pinterest in a report on Wednesday. Royal Bank of Canada upped their price objective on Pinterest from $46.00 to $48.00 and gave the stock an outperform rating in a report on Friday, February 9th. Finally, Argus raised Pinterest from a hold rating to a buy rating and set a $45.00 target price for the company in a report on Thursday, January 18th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Down 0.2 %

PINS opened at $40.40 on Wednesday. The business has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $34.48. Pinterest has a 52 week low of $20.60 and a 52 week 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 issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, sell-side analysts expect that Pinterest will post 0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock valued at $5,773,431 in the last ninety days. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in Pinterest in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new position in shares of Pinterest in the 4th quarter valued at $30,000. Washington Trust Advisors Inc. grew its stake in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the period. Quent Capital LLC increased its holdings in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Pinterest in the 3rd quarter worth $41,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

About Pinterest

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.