Pinterest (NYSE:PINS) PT Raised to $44.00

Pinterest (NYSE:PINS) had its target price lifted by Wedbush from $38.00 to $44.00 in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets began coverage on Pinterest in a report on Tuesday, January 9th. They issued an outperform rating and a $45.00 price target on the stock. Argus raised Pinterest from a hold rating to a buy rating and set a $45.00 price target on the stock in a research note on Thursday, January 18th. Royal Bank of Canada upped their price objective on shares of Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Roth Mkm lifted their target price on shares of Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Finally, Evercore ISI boosted their price target on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a report on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

Shares of PINS stock opened at $40.41 on Wednesday. The stock has a market cap of $27.44 billion, a PE ratio of 192.44, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. The business’s fifty day moving average is $34.79 and its 200-day moving average is $34.53. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Equities research analysts predict that Pinterest will post 0.43 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now owns 33,580 shares in the company, valued at approximately $1,145,078. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares in the company, valued at $1,145,078. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Pinterest in the fourth quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in shares of Pinterest in the 4th quarter valued at approximately $30,000. Washington Trust Advisors Inc. raised its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares in 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 worth $38,000 after buying an additional 460 shares during the period. Finally, Clear Street Markets LLC bought a new stake in Pinterest in the third quarter valued at $41,000. 88.81% of the stock is currently owned by institutional investors.

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.