Pinterest (NYSE:PINS) Given “Overweight” Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Pinterest (NYSE:PINS) in a research note published on Tuesday, Benzinga reports. They currently have a $48.00 price target on the stock.

Several other equities research analysts also recently issued reports on PINS. JPMorgan Chase & Co. boosted their price objective on Pinterest from $34.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. Evercore ISI upped their price objective on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Susquehanna upped their price objective on Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research note on Friday, February 9th. Jefferies Financial Group raised Pinterest from a hold rating to a buy rating and upped their price objective for the company from $32.00 to $41.00 in a research note on Thursday, November 30th. Finally, BMO Capital Markets started coverage on Pinterest in a research note on Tuesday, January 9th. They set an outperform rating and a $45.00 price objective for the company. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $37.80.

Pinterest Stock Performance

NYSE PINS opened at $34.68 on Tuesday. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm has a market capitalization of $23.55 billion, a P/E ratio of -577.90, a price-to-earnings-growth ratio of 4.87 and a beta of 1.00. The stock’s fifty day moving average is $36.22 and its two-hundred day moving average is $33.15.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, sell-side analysts forecast that Pinterest will post 0.36 EPS for the current year.

Insider Transactions at Pinterest

In related news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $36.52, for a total transaction of $70,629.68. Following the sale, the director now directly owns 37,448 shares of the company’s stock, valued at $1,367,600.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock worth $6,555,581 over the last quarter. 6.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Pinterest in the fourth quarter valued at $27,000. Quarry LP purchased a new position in shares of Pinterest during the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest during the 4th quarter valued at $30,000. Cohanzick Management LLC purchased a new position in shares of Pinterest during the 1st quarter valued at $25,000. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Pinterest by 46.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

About Pinterest

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.