Pinterest (NYSE:PINS) Price Target Increased to $46.00 by Analysts at Stifel Nicolaus

Pinterest (NYSE:PINS) had its price target raised by Stifel Nicolaus from $42.00 to $46.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on PINS. Piper Sandler restated an overweight rating and set a $48.00 price objective on shares of Pinterest in a research report on Tuesday, March 26th. Wedbush increased their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a neutral rating in a research report on Friday, February 9th. Rosenblatt Securities reissued a buy rating and issued a $48.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Wednesday. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 price target for the company in a report on Thursday, January 18th. Finally, KeyCorp cut their price target on Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Trading Up 20.8 %

Pinterest stock opened at $40.40 on Wednesday. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The stock has a fifty day simple moving average of $34.60 and a two-hundred day simple moving average of $34.40. 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 issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. On average, equities research analysts forecast that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the sale, the director now directly owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction 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 sale, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the transaction, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. 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. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently modified their holdings of the business. AE Wealth Management LLC grew its position in shares of Pinterest by 28.3% in the third quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after purchasing an additional 2,662 shares during the period. Simplicity Solutions LLC lifted its position in Pinterest by 6.8% during the third quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock worth $216,000 after buying an additional 510 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock valued at $3,857,000 after acquiring an additional 12,300 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Pinterest by 5.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock valued at $1,157,000 after buying an additional 2,247 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Pinterest by 4.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock worth $32,866,000 after acquiring an additional 46,821 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.