Pinterest (NYSE:PINS) PT Raised to $52.00 at Royal Bank of Canada

Pinterest (NYSE:PINS) had its price objective upped by Royal Bank of Canada from $48.00 to $52.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently weighed in on PINS. Stifel Nicolaus boosted their target price on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday. Roth Mkm boosted their price objective on Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Wednesday. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Evercore ISI lifted their target price on Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Finally, Benchmark restated a hold rating on shares of Pinterest in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Pinterest has an average rating of Moderate Buy and an average price target of $40.82.

Pinterest Stock Down 0.2 %

Shares of Pinterest stock opened at $40.40 on Wednesday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The business has a 50 day moving average price of $34.79 and a 200-day moving average price of $34.48. The company has a market cap of $27.43 billion, a PE ratio of 192.39, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, research analysts anticipate that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the transaction, 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 164,471 shares of company stock worth $5,773,431 over the last 90 days. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Vanguard Group Inc. increased its stake in Pinterest by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock worth $2,087,165,000 after purchasing an additional 1,439,595 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Pinterest by 43.9% during the third 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. Franklin Resources Inc. grew its holdings in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Pinterest by 12.6% in the fourth quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after buying an additional 1,043,173 shares during the period. Finally, Capital World Investors raised its holdings in Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after buying an additional 64,270 shares during the last quarter. 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.