Pinterest (NYSE:PINS) Price Target Raised to $28.00

Pinterest (NYSE:PINSGet Rating) had its price objective increased by Evercore ISI from $24.00 to $28.00 in a research report sent to investors on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

PINS has been the subject of a number of other research reports. Citigroup lowered their target price on shares of Pinterest from $28.00 to $27.00 and set a neutral rating for the company in a research note on Wednesday, April 20th. DA Davidson decreased their price target on shares of Pinterest from $33.00 to $20.00 in a research note on Thursday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $32.00 to $26.00 and set a neutral rating for the company in a research note on Wednesday, June 29th. Barclays decreased their price target on shares of Pinterest from $24.00 to $20.00 and set an equal weight rating for the company in a research note on Tuesday, July 5th. Finally, Atlantic Securities set a $22.00 price target on shares of Pinterest in a research note on Tuesday, July 19th. Nineteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Pinterest has an average rating of Hold and an average price target of $29.76.

Pinterest Stock Up 0.4 %

Shares of NYSE PINS opened at $22.53 on Tuesday. Pinterest has a twelve month low of $16.14 and a twelve month high of $66.00. The firm has a fifty day simple moving average of $19.53 and a 200 day simple moving average of $22.64. The company has a market capitalization of $14.95 billion, a PE ratio of 72.68, a P/E/G ratio of 6.27 and a beta of 1.19.

Pinterest (NYSE:PINSGet Rating) last announced its earnings results on Monday, August 1st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Pinterest had a return on equity of 8.35% and a net margin of 8.10%. The firm had revenue of $666.00 million for the quarter, compared to the consensus estimate of $663.19 million. During the same period in the prior year, the business earned $0.11 EPS. Pinterest’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Pinterest will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William J. Ready acquired 222,551 shares of the stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $22.47 per share, with a total value of $5,000,720.97. Following the completion of the transaction, the chief executive officer now owns 222,551 shares in the company, valued at approximately $5,000,720.97. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pinterest news, CFO Todd R. Morgenfeld sold 55,241 shares of Pinterest stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $20.12, for a total value of $1,111,448.92. Following the sale, the chief financial officer now owns 641,025 shares of the company’s stock, valued at $12,897,423. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Ready acquired 222,551 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average cost of $22.47 per share, for a total transaction of $5,000,720.97. Following the transaction, the chief executive officer now owns 222,551 shares of the company’s stock, valued at approximately $5,000,720.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 548,619 shares of company stock worth $10,307,146. 7.58% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in the stock. TFC Financial Management raised its position in shares of Pinterest by 23.5% in the fourth quarter. TFC Financial Management now owns 2,287 shares of the company’s stock valued at $83,000 after purchasing an additional 435 shares during the period. Argent Trust Co raised its position in shares of Pinterest by 2.6% in the fourth quarter. Argent Trust Co now owns 18,713 shares of the company’s stock valued at $680,000 after purchasing an additional 470 shares during the period. Blair William & Co. IL raised its position in shares of Pinterest by 5.7% in the fourth quarter. Blair William & Co. IL now owns 8,907 shares of the company’s stock valued at $324,000 after purchasing an additional 483 shares during the period. Mengis Capital Management Inc. raised its position in shares of Pinterest by 4.3% in the first quarter. Mengis Capital Management Inc. now owns 12,000 shares of the company’s stock valued at $295,000 after purchasing an additional 500 shares during the period. Finally, Koss Olinger Consulting LLC raised its position in shares of Pinterest by 7.2% in the fourth quarter. Koss Olinger Consulting LLC now owns 7,563 shares of the company’s stock valued at $275,000 after purchasing an additional 508 shares during the period. Institutional investors own 63.76% of the company’s stock.

Pinterest Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Pinterest (NYSE:PINS)

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