Pinterest (NYSE:PINS) Given New $28.00 Price Target at Evercore ISI

Pinterest (NYSE:PINSGet Rating) had its price target boosted by Evercore ISI from $24.00 to $28.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have a maintains rating on the stock.

Several other research analysts also recently weighed in on the stock. Susquehanna upgraded shares of Pinterest from a neutral rating to a positive rating and upped their price objective for the stock from $22.00 to $35.00 in a report on Tuesday. Piper Sandler lowered their target price on shares of Pinterest from $23.00 to $22.00 and set a maintains rating for the company in a report on Tuesday. Wedbush lowered their target price on shares of Pinterest from $39.00 to $26.00 in a report on Thursday, April 28th. The Goldman Sachs Group reduced their price target on shares of Pinterest from $35.00 to $24.00 and set a neutral rating for the company in a research report on Thursday, June 9th. Finally, Morgan Stanley reduced their price target on shares of Pinterest from $21.00 to $18.00 and set an equal weight rating for the company in a research report on Tuesday, July 19th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Pinterest presently has a consensus rating of Hold and a consensus target price of $29.60.

Pinterest Stock Up 11.6 %

Pinterest stock opened at $22.31 on Tuesday. Pinterest has a 12-month low of $16.14 and a 12-month high of $66.00. The firm’s fifty day moving average is $19.40 and its 200 day moving average is $22.71. The company has a market capitalization of $14.80 billion, a PE ratio of 46.48, a PEG ratio of 5.48 and a beta of 1.19.

Pinterest (NYSE:PINSGet Rating) last released its earnings results on Monday, August 1st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a net margin of 12.48% and a return on equity of 12.69%. The company had revenue of $666.00 million for the quarter, compared to analyst estimates of $663.19 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Pinterest will post 0.24 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, Director Evan Sharp sold 422,399 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.52, for a total value of $7,400,430.48. The sale was disclosed in a filing with the SEC, which is available through this link. In other Pinterest news, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $20.12, for a total transaction of $1,111,448.92. Following the transaction, the chief financial officer now directly owns 641,025 shares of the company’s stock, valued at $12,897,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Sharp sold 422,399 shares of Pinterest stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $17.52, for a total transaction of $7,400,430.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 548,619 shares of company stock valued at $10,307,146. 7.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. KRS Capital Management LLC bought a new position in shares of Pinterest in the fourth quarter worth approximately $26,000. Sandy Cove Advisors LLC bought a new position in shares of Pinterest in the fourth quarter worth approximately $33,000. Cohanzick Management LLC bought a new position in shares of Pinterest in the first quarter worth approximately $25,000. Covestor Ltd bought a new position in shares of Pinterest in the fourth quarter worth approximately $46,000. Finally, Allworth Financial LP grew its holdings in shares of Pinterest by 134.4% in the second quarter. Allworth Financial LP now owns 1,390 shares of the company’s stock worth $25,000 after purchasing an additional 797 shares during the last quarter. 63.76% of the stock is owned by hedge funds and other institutional investors.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, style and home inspiration, DIY, and others; and provides video, product, and idea pins. It shows visual machine learning recommendations based on pinners taste and interests.

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