Pinterest (NYSE:PINS) PT Raised to $51.00

Pinterest (NYSE:PINS) had its price objective lifted by Citigroup from $48.00 to $51.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on PINS. JPMorgan Chase & Co. lifted their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday. Roth Mkm lifted their price target on shares of Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Wednesday. Susquehanna lifted 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. Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 price target on the stock in a research note on Thursday, January 18th. Finally, Evercore ISI lifted their price target on shares of Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $40.82.

Pinterest Price Performance

Shares of Pinterest stock opened at $40.40 on Wednesday. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The firm has a market cap of $27.43 billion, a PE ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. The company has a 50 day simple moving average of $34.60 and a two-hundred day simple moving average of $34.40.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. The business had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. As a group, research analysts anticipate that Pinterest will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated 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 approximately $1,055,077.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $2,270,756.24. Following the sale, 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. In the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Pinterest by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after acquiring an additional 1,439,595 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after acquiring an additional 2,548,925 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Pinterest by 12.6% during the 4th 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 during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after acquiring an additional 64,270 shares during the last quarter. Hedge funds and other institutional investors 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.