Shares of Pinterest, Inc. (NYSE:PINS – Get Free Report) reached a new 52-week high on Tuesday after Loop Capital raised their price target on the stock from $43.00 to $49.00. Loop Capital currently has a buy rating on the stock. Pinterest traded as high as $41.81 and last traded at $41.61, with a volume of 2362361 shares trading hands. The stock had previously closed at $41.38.
A number of other brokerages have also recently weighed in on PINS. BMO Capital Markets raised their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Sanford C. Bernstein raised their price objective on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Argus raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, January 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 price objective (up from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Finally, Susquehanna increased their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Pinterest presently has an average rating of “Moderate Buy” and a consensus price target of $41.26.
View Our Latest Report on Pinterest
Insider Buying and Selling at Pinterest
Institutional Trading of Pinterest
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Pinterest in the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new position in shares of Pinterest during the fourth quarter worth $30,000. Washington Trust Advisors Inc. increased its position in shares of Pinterest by 46.0% in 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 in the last quarter. Quent Capital LLC raised its stake in 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 period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Pinterest in the fourth quarter valued at about $43,000. 88.81% of the stock is owned by institutional investors.
Pinterest Stock Up 1.3 %
The firm has a fifty day simple moving average of $35.03 and a 200-day simple moving average of $34.79. The company has a market capitalization of $28.64 billion, a P/E ratio of 199.63, a P/E/G ratio of 4.02 and a beta of 0.99.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, sell-side analysts predict that Pinterest, Inc. will post 0.43 earnings per share for the current fiscal year.
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.
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