Pinterest (NYSE:PINS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Pinterest (NYSE:PINS) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $30.00 to $35.00 in a research report issued on Friday, Marketbeat reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.74% from the stock’s current price.

Several other analysts also recently weighed in on PINS. TD Cowen decreased their target price on Pinterest from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $47.00 in a research report on Friday, February 7th. Guggenheim reduced their target price on shares of Pinterest from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price objective on Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.27.

Pinterest Trading Up 4.9 %

PINS stock opened at $29.23 on Friday. The stock has a market cap of $19.82 billion, a PE ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest has a 12 month low of $23.68 and a 12 month high of $45.19. The company has a 50-day moving average price of $28.84 and a 200 day moving average price of $31.21.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the company posted $0.17 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Sell-side analysts forecast that Pinterest will post 0.6 EPS for the current year.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the transaction, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 453,836 shares of company stock worth $14,828,392 over the last 90 days. 7.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Pinterest by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company’s stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Pinterest by 104.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. FMR LLC grew its holdings in shares of Pinterest by 2.6% during the fourth quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after buying an additional 316,633 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pinterest in the 4th quarter valued at about $358,205,000. 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.