Pinterest (NYSE:PINS) Given New $73.00 Price Target at Morgan Stanley

Pinterest (NYSE:PINS) had its price objective increased by investment analysts at Morgan Stanley from $47.00 to $73.00 in a report issued on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 48.22% from the company’s previous close.

PINS has been the subject of several other research reports. OTR Global upgraded shares of Pinterest to a “positive” rating in a research report on Thursday, October 22nd. Credit Suisse Group upped their price target on shares of Pinterest from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 20th. Pivotal Research upped their price target on shares of Pinterest from $44.50 to $75.00 and gave the stock a “hold” rating in a research note on Thursday. MKM Partners raised shares of Pinterest from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $66.00 in a research note on Thursday. Finally, Citigroup cut shares of Pinterest from a “buy” rating to a “neutral” rating and upped their price target for the stock from $25.00 to $35.00 in a research note on Monday, August 24th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pinterest presently has a consensus rating of “Buy” and a consensus target price of $46.30.

Shares of NYSE:PINS opened at $49.25 on Thursday. The company has a market capitalization of $29.58 billion, a PE ratio of -69.37 and a beta of 1.72. Pinterest has a twelve month low of $10.10 and a twelve month high of $53.87. The firm has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $29.21.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.26. Pinterest had a negative net margin of 32.88% and a negative return on equity of 20.50%. As a group, equities research analysts expect that Pinterest will post -0.53 EPS for the current fiscal year.

In other Pinterest news, insider Evan Sharp sold 61,098 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $53.21, for a total value of $3,251,024.58. Following the transaction, the insider now directly owns 61,098 shares in the company, valued at approximately $3,251,024.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Benjamin Silbermann sold 52,600 shares of the stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $49.84, for a total transaction of $2,621,584.00. Following the transaction, the chief executive officer now owns 52,600 shares in the company, valued at $2,621,584. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,771,975 shares of company stock worth $181,738,690.

Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC lifted its holdings in shares of Pinterest by 152.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,135 shares of the company’s stock worth $25,000 after acquiring an additional 685 shares during the period. Sonora Investment Management LLC purchased a new position in shares of Pinterest during the 3rd quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new position in shares of Pinterest during the 2nd quarter worth about $26,000. Rosenberg Matthew Hamilton purchased a new position in shares of Pinterest during the 2nd quarter worth about $33,000. Finally, IFP Advisors Inc lifted its holdings in shares of Pinterest by 1,381.9% during the 2nd quarter. IFP Advisors Inc now owns 1,882 shares of the company’s stock worth $42,000 after acquiring an additional 1,755 shares during the period. Institutional investors and hedge funds 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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