Pinterest (NYSE:PINS) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Pinterest (NYSE:PINS) in a research note published on Thursday, Benzinga reports. The firm currently has a $52.00 price target on the stock, up from their prior price target of $50.00.

A number of other research firms have also recently commented on PINS. Citigroup lifted their target price on Pinterest from $48.00 to $51.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Susquehanna lifted their target price on Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on Pinterest from $47.00 to $48.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Finally, Roth Mkm lifted their target price on Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has an average rating of Moderate Buy and an average target price of $41.34.

Pinterest Trading Down 0.2 %

Shares of NYSE PINS opened at $41.30 on Thursday. The stock has a market cap of $28.21 billion, a P/E ratio of 196.68, a PEG ratio of 4.12 and a beta of 0.99. Pinterest has a 12-month low of $23.35 and a 12-month high of $43.12. The business’s fifty day simple moving average is $36.63 and its 200-day simple moving average is $35.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. On average, equities analysts forecast that Pinterest will post 0.43 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the transaction, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the sale, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the sale, the director now owns 34,215 shares in the company, valued at $1,200,262.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,405 shares of company stock worth $5,855,142. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. lifted its holdings in Pinterest by 1.7% during the 4th 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 last quarter. Venture Visionary Partners LLC raised its stake in shares of Pinterest by 0.7% in the fourth 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 during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Pinterest by 46.0% in the fourth 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 last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Pinterest by 0.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Pinterest by 40.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares during the last quarter. 88.81% of the stock is owned by institutional investors.

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.