Pinterest (NYSE:PINS) Price Target Raised to $40.00

Pinterest (NYSE:PINS) had its price objective hoisted by Roth Mkm from $38.00 to $40.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on PINS. KeyCorp dropped 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. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 target price on the stock in a research report on Thursday, January 18th. Evercore ISI raised their target price on Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Rosenblatt Securities reissued a buy rating and issued a $48.00 price target (up from $45.00) on shares of Pinterest in a research note on Wednesday. Finally, Benchmark restated a hold rating on shares of Pinterest in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Pinterest currently has a consensus rating of Moderate Buy and an average price target of $40.82.

Pinterest Trading Down 0.2 %

NYSE PINS opened at $40.40 on Wednesday. The firm 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. The business’s 50-day moving average price is $34.79 and its two-hundred day moving average price is $34.48. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. As a group, analysts forecast that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated 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 sale, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. 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 quarter. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently added to or reduced their stakes in PINS. Nikko Asset Management Americas Inc. boosted its stake in Pinterest by 66.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock valued at $145,594,000 after acquiring an additional 1,678,756 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Pinterest by 301.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock worth $5,176,000 after purchasing an additional 112,107 shares during the period. Quent Capital LLC lifted its stake in Pinterest by 71.2% in the first 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. Nordea Investment Management AB grew its holdings in Pinterest by 2.0% during the first quarter. Nordea Investment Management AB now owns 899,719 shares of the company’s stock valued at $31,364,000 after purchasing an additional 17,486 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Pinterest by 5.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,372 shares of the company’s stock worth $602,000 after buying an additional 945 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.