Shares of Pinterest, Inc. (NYSE:PINS – Get Free Report) reached a new 52-week high on Tuesday after Loop Capital raised their price target on the stock from $43.00 to $49.00. Loop Capital currently has a buy rating on the stock. Pinterest traded as high as $41.81 and last traded at $41.61, with a volume of 2362361 shares. The stock had previously closed at $41.38.
Several other research analysts have also recently weighed in on PINS. Stifel Nicolaus upped their price objective on shares of Pinterest from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Roth Mkm raised their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their target price on shares of Pinterest from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company raised their price target on Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI upped their price objective on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.26.
Check Out Our Latest Stock Report on Pinterest
Insiders Place Their Bets
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in PINS. Motley Fool Asset Management LLC lifted its holdings in shares of Pinterest by 321.8% during the first quarter. Motley Fool Asset Management LLC now owns 52,396 shares of the company’s stock valued at $1,817,000 after purchasing an additional 39,974 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Pinterest by 8.3% during the 1st quarter. Bleakley Financial Group LLC now owns 10,781 shares of the company’s stock valued at $374,000 after acquiring an additional 828 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Pinterest by 36.8% in the first quarter. Avantax Advisory Services Inc. now owns 12,604 shares of the company’s stock worth $437,000 after acquiring an additional 3,392 shares during the period. US Bancorp DE raised its holdings in shares of Pinterest by 2.0% during the first quarter. US Bancorp DE now owns 26,602 shares of the company’s stock valued at $922,000 after purchasing an additional 521 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Pinterest by 38.0% during the first quarter. Russell Investments Group Ltd. now owns 613,564 shares of the company’s stock valued at $21,358,000 after purchasing an additional 169,052 shares during the period. Institutional investors own 88.81% of the company’s stock.
Pinterest Stock Up 1.7 %
The company has a market cap of $29.12 billion, a PE ratio of 202.96, a PEG ratio of 4.02 and a beta of 0.99. The company’s fifty day moving average is $35.16 and its 200-day moving average is $34.91.
Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping 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 company had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Equities research analysts expect that Pinterest, Inc. will post 0.43 EPS for the current fiscal year.
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.
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