Pinterest (NYSE:PINS) Given New $70.00 Price Target at UBS Group

Pinterest (NYSE:PINS) had its price objective raised by equities research analysts at UBS Group from $57.00 to $70.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 42.13% from the company’s current price.

PINS has been the topic of a number of other research reports. JPMorgan Chase & Co. raised Pinterest from a “neutral” rating to an “overweight” rating and increased their target price for the company from $57.00 to $75.00 in a research note on Thursday. Wedbush raised their price objective on Pinterest from $31.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Rosenblatt Securities reaffirmed a “hold” rating and set a $40.00 price objective on shares of Pinterest in a research note on Thursday, October 22nd. KeyCorp raised their price objective on Pinterest from $44.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday. Finally, DA Davidson raised their price objective on Pinterest from $19.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Eleven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.30.

NYSE:PINS opened at $49.25 on Thursday. Pinterest has a 1 year low of $10.10 and a 1 year high of $53.87. The company has a market cap of $29.58 billion, a P/E ratio of -69.37 and a beta of 1.72. The stock’s fifty day moving average price is $42.09 and its two-hundred day moving average price is $29.21.

Pinterest (NYSE:PINS) last released its earnings results on Wednesday, October 28th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.26. Pinterest had a negative return on equity of 20.50% and a negative net margin of 32.88%. Equities analysts forecast that Pinterest will post -0.53 earnings per share for the current year.

In related news, CAO Tseli Lily Yang sold 1,269 shares of Pinterest stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.43, for a total transaction of $43,691.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Todd R. Morgenfeld sold 35,963 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $34.20, for a total transaction of $1,229,934.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,771,975 shares of company stock valued at $181,738,690.

Several institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its holdings in shares of Pinterest by 1,114.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,732 shares of the company’s stock worth $113,000 after buying an additional 2,507 shares during the last quarter. Dorsey Wright & Associates bought a new stake in shares of Pinterest in the 3rd quarter worth about $1,427,000. KBC Group NV increased its holdings in shares of Pinterest by 31.7% in the 3rd quarter. KBC Group NV now owns 216,784 shares of the company’s stock worth $8,999,000 after buying an additional 52,241 shares during the last quarter. HYA Advisors Inc bought a new stake in shares of Pinterest in the 3rd quarter worth about $256,000. Finally, Portland Ltd increased its holdings in shares of Pinterest by 118.1% in the 3rd quarter. Portland Ltd now owns 77,263 shares of the company’s stock worth $1,439,000 after buying an additional 41,836 shares during the last quarter. Hedge funds and other institutional investors own 54.51% of the company’s stock.

About Pinterest

Pinterest, Inc provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests.

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