Pinterest (NYSE:PINS) Price Target Increased to $75.00 by Analysts at Pivotal Research

Pinterest (NYSE:PINS) had its price target hoisted by stock analysts at Pivotal Research from $44.50 to $75.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “hold” rating on the stock. Pivotal Research’s price objective would suggest a potential upside of 52.28% from the company’s current price.

Other equities analysts have also issued reports about the stock. Robert W. Baird lifted their price objective on shares of Pinterest from $35.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Barclays reiterated a “neutral” rating on shares of Pinterest in a research report on Sunday, August 2nd. KeyCorp lifted their price objective on shares of Pinterest from $44.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley lifted their price objective on shares of Pinterest from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Finally, OTR Global upgraded shares of Pinterest to a “positive” rating in a research report on Thursday, October 22nd. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.30.

Shares of PINS opened at $49.25 on Thursday. The stock has a market capitalization of $29.58 billion, a PE ratio of -69.37 and a beta of 1.72. Pinterest has a 1 year low of $10.10 and a 1 year high of $53.87. The company’s 50-day simple moving average is $42.09 and its 200-day simple moving average is $29.21.

Pinterest (NYSE:PINS) last issued its earnings results on Wednesday, October 28th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ 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%. On average, equities research analysts forecast that Pinterest will post -0.53 EPS for the current year.

In related news, CEO Benjamin Silbermann sold 86,450 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $35.88, for a total value of $3,101,826.00. Following the completion of the transaction, the chief executive officer now owns 78,899 shares of the company’s stock, valued at approximately $2,830,896.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tseli Lily Yang sold 39,024 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $32.95, for a total transaction of $1,285,840.80. The disclosure for this sale can be found here. Insiders sold a total of 4,771,975 shares of company stock valued at $181,738,690 in the last three months.

A number of hedge funds have recently made changes to their positions in the stock. Cornerstone Capital Inc. raised its stake in Pinterest by 1.0% in the 3rd quarter. Cornerstone Capital Inc. now owns 30,385 shares of the company’s stock valued at $1,261,000 after purchasing an additional 295 shares during the last quarter. US Bancorp DE raised its stake in Pinterest by 5.7% in the 2nd quarter. US Bancorp DE now owns 5,891 shares of the company’s stock valued at $130,000 after purchasing an additional 316 shares during the last quarter. Optas LLC raised its stake in Pinterest by 0.6% in the 2nd quarter. Optas LLC now owns 75,453 shares of the company’s stock valued at $1,673,000 after purchasing an additional 443 shares during the last quarter. Sonora Investment Management LLC acquired a new position in Pinterest in the 3rd quarter valued at about $25,000. Finally, Flagship Harbor Advisors LLC grew its holdings in Pinterest by 152.2% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,135 shares of the company’s stock valued at $25,000 after buying an additional 685 shares during the period. 54.51% of the stock is owned by hedge funds and other institutional investors.

Pinterest Company Profile

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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The Fly

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