Wedbush Boosts Pinterest (NYSE:PINS) Price Target to $38.00

Pinterest (NYSE:PINSFree Report) had its price target boosted by Wedbush from $35.00 to $38.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also commented on the stock. KeyCorp increased their price objective on shares of Pinterest from $37.00 to $48.00 and gave the company an overweight rating in a research report on Monday, February 5th. Jefferies Financial Group raised shares of Pinterest from a hold rating to a buy rating and increased their price objective for the company from $32.00 to $41.00 in a research report on Thursday, November 30th. Roth Mkm increased their price objective on shares of Pinterest from $31.00 to $37.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Pinterest from $32.00 to $34.00 and gave the company a neutral rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus raised their price objective on Pinterest from $26.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $37.52.

Check Out Our Latest Report on PINS

Pinterest Stock Down 9.5 %

NYSE:PINS opened at $36.87 on Friday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The firm has a 50 day moving average of $37.15 and a 200 day moving average of $31.29. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of -614.40, a PEG ratio of 3.78 and a beta of 1.02.

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,410 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $32.28, for a total transaction of $368,314.80. Following the completion of the sale, the insider now owns 216,326 shares of the company’s stock, valued at $6,983,003.28. The transaction was disclosed in a filing 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 business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.95, for a total transaction of $73,395.30. Following the completion of the sale, the director now owns 39,382 shares of the company’s stock, valued at $1,494,546.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $32.28, for a total transaction of $368,314.80. Following the sale, the insider now directly owns 216,326 shares of the company’s stock, valued at approximately $6,983,003.28. The disclosure for this sale can be found here. Insiders sold a total of 77,737 shares of company stock worth $2,826,987 in the last 90 days. Corporate insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently modified their holdings of PINS. Acadian Asset Management LLC grew its holdings in shares of Pinterest by 21.9% during the first quarter. Acadian Asset Management LLC now owns 13,589 shares of the company’s stock worth $334,000 after buying an additional 2,437 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Pinterest during the first quarter worth $906,000. Raymond James Trust N.A. grew its holdings in Pinterest by 29.0% in the 1st quarter. Raymond James Trust N.A. now owns 11,342 shares of the company’s stock valued at $279,000 after buying an additional 2,550 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Pinterest by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 492,299 shares of the company’s stock valued at $12,118,000 after buying an additional 51,318 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Pinterest by 261.5% in the 1st quarter. Sei Investments Co. now owns 273,925 shares of the company’s stock valued at $6,691,000 after buying an additional 198,153 shares in the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.

Pinterest Company Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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