Pinterest (NYSE:PINS – Get Free Report)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research report issued on Thursday, Benzinga reports. They currently have a $52.00 price target on the stock, up from their previous price target of $50.00. Piper Sandler’s target price would suggest a potential upside of 25.48% from the stock’s previous close.
Several other research analysts have also recently commented on the company. Loop Capital increased their price target on Pinterest from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Rosenblatt Securities reissued a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. BMO Capital Markets upped their price target on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Roth Mkm increased their price target on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Sanford C. Bernstein boosted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.34.
Read Our Latest Report on PINS
Pinterest Stock Up 0.3 %
NYSE PINS opened at $41.44 on Thursday. The firm’s 50 day moving average is $36.78 and its 200-day moving average is $36.02. The company has a market capitalization of $28.31 billion, a PE ratio of 197.34, a price-to-earnings-growth ratio of 4.11 and a beta of 0.99. Pinterest has a 12-month low of $23.35 and a 12-month high of $43.12.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $739.98 million for the quarter, compared to analyst estimates of $699.96 million. As a group, sell-side analysts expect that Pinterest will post 0.43 EPS for the current year.
Insider Activity at Pinterest
In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 transaction 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 $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now directly owns 54,215 shares in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Insiders have sold 166,405 shares of company stock valued at $5,855,142 over the last ninety days. 7.11% of the stock is owned by corporate insiders.
Institutional Trading of Pinterest
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Pinterest during the fourth quarter worth $241,229,000. Wellington Management Group LLP grew its holdings in Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock worth $221,850,000 after acquiring an additional 5,524,796 shares during the period. Fred Alger Management LLC raised its position in shares of Pinterest by 279,496.9% in the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after acquiring an additional 4,670,394 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Pinterest by 43.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after purchasing an additional 3,134,776 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.
Pinterest Company Profile
(Get Free Report)
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.
Further Reading
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