Pinterest (NYSE:PINS) Price Target Raised to $51.00

Pinterest (NYSE:PINS) had its price objective lifted by Rosenblatt Securities from $46.00 to $51.00 in a research note released on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

PINS has been the topic of several other reports. KeyCorp cut their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a research note on Friday. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Pinterest in a report on Tuesday, January 28th. Finally, Raymond James decreased their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Performance

NYSE:PINS opened at $40.02 on Friday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The company has a 50 day moving average price of $31.43 and a 200 day moving average price of $31.50. The stock has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share 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%. Research analysts forecast that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest 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 transaction, the director now directly owns 30,236 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction 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 trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Pinterest during the third quarter worth about $37,000. Crewe Advisors LLC raised its holdings in Pinterest by 91.1% during the third 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 lifted its position in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.