Pinterest (NYSE:PINS) Price Target Raised to $49.00

Pinterest (NYSE:PINS) had its price objective hoisted by Wells Fargo & Company from $48.00 to $49.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

PINS has been the subject of several other research reports. Wedbush boosted their price target on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their target price on Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Benchmark reissued a hold rating on shares of Pinterest in a research report on Wednesday, May 1st. Loop Capital upped their target price on Pinterest from $43.00 to $49.00 and gave the company a buy rating in a research note on Monday, May 6th. Finally, Stifel Nicolaus increased their price objective on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $41.37.

Pinterest Stock Down 0.1 %

PINS stock opened at $44.07 on Tuesday. The company has a market capitalization of $30.10 billion, a P/E ratio of 209.84, a PEG ratio of 4.35 and a beta of 0.97. The company has a 50-day simple moving average of $41.22 and a 200 day simple moving average of $37.88. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

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

Insider Transactions at Pinterest

In other news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the transaction, the chief accounting officer now owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,627 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now owns 307,256 shares of the company’s stock, valued at approximately $12,726,543.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at approximately $8,410,770. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,904 shares of company stock valued at $1,613,557. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Pinterest during the 4th quarter valued at about $27,000. Rakuten Securities Inc. bought a new stake in shares of Pinterest during the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. boosted 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 purchasing an additional 326 shares in the last quarter. Quent Capital LLC boosted 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 purchasing an additional 460 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest during the 4th quarter valued at about $43,000. 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.