Stifel Nicolaus Boosts Pinterest (NYSE:PINS) Price Target to $46.00

Pinterest (NYSE:PINS) had its target price lifted by Stifel Nicolaus from $42.00 to $46.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Roth Mkm upped their price target on Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Evercore ISI lifted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. KeyCorp cut their price objective on shares of Pinterest from $48.00 to $40.00 and set an overweight rating for the company in a research report on Wednesday, April 24th. Finally, Piper Sandler restated an overweight rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, March 26th. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pinterest currently has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Performance

Shares of PINS stock opened at $40.40 on Wednesday. The stock’s 50-day moving average is $34.79 and its two-hundred day moving average is $34.48. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. 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 (NYSE:PINS) last issued its quarterly 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 firm 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%. As a group, research analysts predict that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction 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 transaction, the director now owns 31,646 shares in the company, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of the company’s 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 sale, the insider now owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Legacy Capital Group California Inc. raised its position in Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after purchasing an additional 267 shares during the period. Venture Visionary Partners LLC lifted its position in Pinterest by 0.7% during the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after acquiring an additional 324 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings 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 acquiring an additional 326 shares during the period. Creative Financial Designs Inc. ADV grew its position in Pinterest by 0.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after acquiring an additional 348 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after purchasing an additional 378 shares during the period. Hedge funds and other 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.