Pinterest (NYSE:PINS) Given New $48.00 Price Target at Cantor Fitzgerald

Pinterest (NYSE:PINS) had its target price upped by Cantor Fitzgerald from $36.00 to $48.00 in a research note released on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Pinterest in a research note on Friday. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Pinterest in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their target price on shares of Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley boosted their price objective on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $47.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Performance

Shares of PINS stock opened at $40.02 on Friday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The stock has a market cap of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. The firm’s 50-day moving average is $31.43 and its 200-day moving average is $31.50.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. Sell-side analysts predict that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its position in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares during the period. V Square Quantitative Management LLC purchased a new position in Pinterest during the 3rd quarter valued at about $37,000. Crewe Advisors LLC boosted its position in shares of Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after acquiring an additional 1,487 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.