Pinterest (NYSE:PINS) Given New $50.00 Price Target at Piper Sandler

Pinterest (NYSE:PINS) had its target price lifted by Piper Sandler from $48.00 to $50.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Rosenblatt Securities reiterated a buy rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a report on Wednesday. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 target price for the company in a research note on Thursday, January 18th. Wedbush boosted their price target on Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pinterest presently has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Performance

Shares of PINS stock opened at $40.40 on Wednesday. The stock’s 50-day moving average is $34.60 and its two-hundred day moving average is $34.40. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, research analysts predict that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were 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 of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders sold 164,471 shares of company stock worth $5,773,431 over the last three months. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several large investors have recently modified their holdings of the business. Legacy Capital Group California Inc. increased its stake in shares of Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares during the last quarter. Venture Visionary Partners LLC increased its position in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after purchasing an additional 324 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after purchasing an additional 326 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after buying an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Company Profile

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.