Pinterest (NYSE:PINS) Price Target Raised to $46.00

Pinterest (NYSE:PINS) had its price objective lifted by BMO Capital Markets from $45.00 to $46.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on PINS. Wedbush lifted their price target on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday. Roth Mkm upped their price target on Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday. Piper Sandler boosted their price objective on Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a report on Wednesday. Finally, Stifel Nicolaus increased their target price on Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Price Performance

Shares of NYSE:PINS opened at $40.40 on Wednesday. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The business’s 50-day moving average is $34.79 and its 200-day moving average is $34.48. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 192.39, a P/E/G ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly 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 firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Analysts anticipate that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $866,310.90. Following the completion of the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,471 shares of company stock valued at $5,773,431. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Large investors have recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock worth $327,000 after buying an additional 2,662 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of Pinterest by 6.8% in the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock worth $216,000 after acquiring an additional 510 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Pinterest by 9.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock valued at $3,857,000 after purchasing an additional 12,300 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Pinterest by 5.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock valued at $1,157,000 after purchasing an additional 2,247 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Pinterest by 4.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock worth $32,866,000 after purchasing an additional 46,821 shares in the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.