Pinterest (NYSE:PINS) PT Raised to $50.00 at Piper Sandler

Pinterest (NYSE:PINS) had its target price upped by research analysts at Piper Sandler from $48.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 23.40% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price target on Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. BMO Capital Markets assumed coverage on Pinterest in a report on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price for the company. Susquehanna lifted their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. 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. Finally, KeyCorp lowered their target price on shares of Pinterest from $48.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.82.

Pinterest Stock Up 0.1 %

NYSE:PINS opened at $40.52 on Wednesday. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of 192.96, a P/E/G ratio of 5.55 and a beta of 0.99. The stock’s 50 day moving average price is $34.70 and its two-hundred day moving average price is $34.44.

Pinterest (NYSE:PINS) last posted 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. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Equities research analysts expect that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the sale, the director now owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently added to or reduced their stakes in PINS. GAMMA Investing LLC bought a new position in shares of Pinterest during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in Pinterest during the 4th quarter worth $30,000. Washington Trust Advisors Inc. grew its position in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. Quent Capital LLC lifted its holdings in Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 460 shares during the period. Finally, Clear Street Markets LLC bought a new stake in Pinterest during the third quarter worth $41,000. Institutional investors and hedge funds 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.