Pinterest (NYSE:PINS) Upgraded at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, Briefing.com reports. The firm presently has a $75.00 price objective on the stock, up from their prior price objective of $57.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 52.28% from the stock’s previous close.

PINS has been the subject of a number of other reports. Rosenblatt Securities reaffirmed a “hold” rating and set a $40.00 price target on shares of Pinterest in a research report on Thursday, October 22nd. Robert W. Baird increased their target price on Pinterest from $35.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Pinterest from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Guggenheim started coverage on shares of Pinterest in a research report on Monday, September 28th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Pinterest from $40.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Eleven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $41.59.

Shares of NYSE:PINS opened at $49.25 on Thursday. The stock has a 50-day simple moving average of $42.09 and a 200-day simple moving average of $29.21. The stock has a market capitalization of $29.58 billion, a P/E 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.

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

In related news, CAO Tseli Lily Yang sold 39,024 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $32.95, for a total transaction of $1,285,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Evan Sharp sold 61,098 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $53.21, for a total value of $3,251,024.58. Following the completion of the sale, the insider now directly owns 61,098 shares in the company, valued at $3,251,024.58. 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 over the last ninety days.

Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its position 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 purchasing an additional 685 shares during the last quarter. Sonora Investment Management LLC bought a new position in Pinterest in the 3rd quarter worth about $25,000. TRUE Private Wealth Advisors acquired a new stake in shares of Pinterest in the second quarter valued at approximately $26,000. Rosenberg Matthew Hamilton bought a new stake in shares of Pinterest during the second quarter valued at approximately $33,000. Finally, IFP Advisors Inc raised its holdings in shares of Pinterest by 1,381.9% during the second quarter. IFP Advisors Inc now owns 1,882 shares of the company’s stock valued at $42,000 after buying an additional 1,755 shares during the last quarter. 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.

Read More: Accumulation/Distribution

Analyst Recommendations for Pinterest (NYSE:PINS)

Receive News & Ratings for Pinterest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinterest and related companies with MarketBeat.com's FREE daily email newsletter.