Pinterest (NYSE:PINS) Price Target Increased to $51.00 by Analysts at Citigroup

Pinterest (NYSE:PINS) had its price objective raised by Citigroup from $48.00 to $51.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on PINS. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a report on Wednesday. Rosenblatt Securities reissued a buy rating and issued a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the company an outperform rating in a report on Wednesday. Finally, BMO Capital Markets boosted their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a research report on Wednesday. Eight equities research 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, the stock currently has an average rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

Shares of PINS stock opened at $40.40 on Wednesday. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. The company has a 50-day simple moving average of $34.60 and a 200 day simple moving average of $34.40. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. Sell-side analysts forecast that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock worth $5,773,431 in the last three months. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in shares of Pinterest in the 4th quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in shares of Pinterest in the 4th quarter valued at $30,000. Washington Trust Advisors Inc. boosted its stake 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 valued at $38,000 after purchasing an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Pinterest in the 3rd quarter valued at $41,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Pinterest in the 4th quarter valued at $43,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.