JPMorgan Chase & Co. Raises Pinterest (NYSE:PINS) Price Target to $44.00

Pinterest (NYSE:PINS) had its target price raised by JPMorgan Chase & Co. from $38.00 to $44.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently commented on PINS. Rosenblatt Securities reiterated a buy rating and set a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday. Evercore ISI lifted their target price on shares of Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a report on Friday, January 26th. Piper Sandler increased their price target on Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a research note on Wednesday. Susquehanna lifted their price objective on Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research note on Friday, February 9th. Finally, KeyCorp cut their target price on Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Eight equities research 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, Pinterest presently has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Price Performance

PINS stock opened at $40.40 on Wednesday. The company has a 50 day moving average price of $34.79 and a 200 day moving average price of $34.48. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The stock has a market capitalization of $27.43 billion, a PE ratio of 192.39, a price-to-earnings-growth ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share 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 the consensus estimate of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, equities analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of the firm’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 owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the firm’s 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 transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,471 shares of company stock worth $5,773,431. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently made changes to their positions in PINS. GAMMA Investing LLC acquired a new position in shares of Pinterest in the fourth quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in Pinterest during the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. lifted its position 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 worth $38,000 after purchasing an additional 326 shares during the period. Quent Capital LLC boosted its stake in shares of Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinterest during the fourth quarter worth $43,000. Institutional investors 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.