Pinterest (NYSE:PINS) PT Raised to $46.00 at Stifel Nicolaus

Pinterest (NYSE:PINS) had its price target upped by investment analysts at Stifel Nicolaus from $42.00 to $46.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 13.52% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. BMO Capital Markets began coverage on shares of Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, March 26th. Roth Mkm increased their target price on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Wedbush increased their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.82.

Pinterest Trading Up 0.1 %

PINS opened at $40.52 on Wednesday. The company’s fifty day moving average price is $34.70 and its two-hundred day moving average price is $34.44. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The company has a market cap of $27.51 billion, a price-to-earnings ratio of 192.96, a PEG ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data 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 net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, equities analysts forecast that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Nikko Asset Management Americas Inc. raised its holdings in Pinterest by 66.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock valued at $145,594,000 after buying an additional 1,678,756 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Pinterest by 301.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock valued at $5,176,000 after buying an additional 112,107 shares during the last quarter. Quent Capital LLC raised its holdings in Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the last quarter. Nordea Investment Management AB raised its holdings in Pinterest by 2.0% during the 1st quarter. Nordea Investment Management AB now owns 899,719 shares of the company’s stock valued at $31,364,000 after buying an additional 17,486 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Pinterest by 5.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,372 shares of the company’s stock valued at $602,000 after buying an additional 945 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.