Pinterest (NYSE:PINS) Price Target Raised to $47.00

Pinterest (NYSE:PINSFree Report) had its target price upped by The Goldman Sachs Group from $42.00 to $47.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald lifted their price objective on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim increased their target price on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Pinterest in a research note on Tuesday, January 28th. Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday. Finally, TD Cowen initiated coverage on Pinterest in a research note on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.86.

View Our Latest Report on Pinterest

Pinterest Stock Up 19.1 %

Pinterest stock opened at $40.02 on Friday. The firm has a fifty day moving average of $31.43 and a 200-day moving average of $31.50. The firm has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19.

Pinterest (NYSE:PINSGet Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. On average, research analysts expect that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now owns 32,536 shares in the company, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,157 shares of company stock worth $589,131. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Pinterest during the 4th quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Pinterest in the third quarter worth approximately $37,000. Crewe Advisors LLC boosted its holdings in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. Finally, True Wealth Design LLC increased its holdings in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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