Pinterest, Inc. (NYSE:PINS) Receives $37.97 Average Target Price from Brokerages

Shares of Pinterest, Inc. (NYSE:PINS) have received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $37.97.

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of Pinterest in a report on Friday, February 9th. Evercore ISI lifted their target price on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Royal Bank of Canada lifted their target price on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets initiated coverage on Pinterest in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, March 26th.

Insiders Place Their Bets

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total transaction of $751,800.00. Following the transaction, the director now owns 74,215 shares of the company’s stock, valued at $2,789,741.85. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the transaction, the director now owns 74,215 shares in the company, valued at approximately $2,789,741.85. The disclosure for this sale can be found here. Insiders have sold a total of 184,471 shares of company stock valued at $6,525,231 over the last 90 days. 6.85% of the stock is currently owned by insiders.

Institutional Trading of Pinterest

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in Pinterest during the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new position in Pinterest during the 4th quarter worth $30,000. Washington Trust Advisors Inc. increased its stake in Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after acquiring an additional 326 shares during the period. Clear Street Markets LLC bought a new position in Pinterest during the 3rd quarter worth $41,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Pinterest during the 4th quarter worth $43,000. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Pinterest has a twelve month low of $20.60 and a twelve month high of $41.60. The stock has a 50-day moving average of $34.79 and a 200 day moving average of $34.08. The firm has a market cap of $22.22 billion, a PE ratio of -539.91, a PEG ratio of 4.44 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. As a group, analysts anticipate that Pinterest will post 0.36 earnings per share for the current fiscal year.

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.