Pinterest (NYSE:PINS) Price Target Raised to $52.00

Pinterest (NYSE:PINS) had its target price increased by Royal Bank of Canada from $48.00 to $52.00 in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the company. Evercore ISI boosted their price objective on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. Benchmark reissued a hold rating on shares of Pinterest in a report on Wednesday. Susquehanna increased their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a report on Friday, February 9th. Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 target price for the company in a research note on Thursday, January 18th. Finally, Stifel Nicolaus upped their target price on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently 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 firm has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 5.55 and a beta of 0.99. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The firm has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $34.48.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business 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 5.93%. As a group, analysts expect that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest 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 transaction, the director now owns 54,215 shares in the company, valued at $1,986,979.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated 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 of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently made changes to their positions in the business. Nikko Asset Management Americas Inc. boosted its holdings in shares of Pinterest by 66.6% during the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock worth $145,594,000 after purchasing an additional 1,678,756 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Pinterest by 301.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock valued at $5,176,000 after buying an additional 112,107 shares during the period. Quent Capital LLC grew its holdings in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 460 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Pinterest by 2.0% in the first quarter. Nordea Investment Management AB now owns 899,719 shares of the company’s stock worth $31,364,000 after acquiring an additional 17,486 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Pinterest by 5.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,372 shares of the company’s stock worth $602,000 after acquiring an additional 945 shares in the last quarter. Institutional investors and hedge funds 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.