Wells Fargo & Company Increases Pinterest (NYSE:PINS) Price Target to $49.00

Pinterest (NYSE:PINS) had its price target lifted by equities researchers at Wells Fargo & Company from $48.00 to $49.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.36% from the company’s current price.

A number of other brokerages have also commented on PINS. Rosenblatt Securities reissued a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Loop Capital lifted their price target on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, May 6th. KeyCorp cut their price target on Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Wedbush raised their price objective on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.37.

Pinterest Stock Performance

Shares of NYSE PINS opened at $44.40 on Tuesday. Pinterest has a 52 week low of $23.59 and a 52 week high of $45.19. The stock has a market capitalization of $30.33 billion, a P/E ratio of 211.43, a PEG ratio of 4.41 and a beta of 0.97. The stock’s fifty day moving average is $40.77 and its 200 day moving average is $37.79.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Equities research analysts forecast that Pinterest will post 0.44 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold a total of 41,904 shares of company stock valued at $1,613,557 over the last 90 days. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Pinterest during the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest during the 4th quarter valued at $30,000. Washington Trust Advisors Inc. lifted its position in shares of Pinterest by 46.0% during 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 during the last quarter. Quent Capital LLC lifted its position in shares of 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. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Pinterest during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.