Pinterest (NYSE:PINS) Price Target Raised to $46.00 at Wedbush

Pinterest (NYSE:PINS) had its price target raised by Wedbush from $38.00 to $46.00 in a report published on Friday morning, Marketbeat.com reports. Wedbush currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on PINS. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities lifted their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, January 10th. Finally, Oppenheimer lifted their price objective on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Stock Performance

Shares of NYSE PINS opened at $40.02 on Friday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The business has a fifty day moving average of $31.43 and a two-hundred day moving average of $31.50. The stock has a market cap of $27.04 billion, a PE ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) 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%. Analysts predict that Pinterest will post 0.59 earnings per share for the current year.

Insider Activity at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the transaction, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. 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. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Point72 Asset Management L.P. purchased a new stake in Pinterest during the 3rd quarter valued at approximately $153,829,000. Southpoint Capital Advisors LP acquired a new position in Pinterest in the third quarter worth $123,006,000. Ontario Teachers Pension Plan Board raised its stake in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock valued at $285,248,000 after acquiring an additional 2,996,750 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Pinterest in the 4th quarter worth about $61,261,000. Finally, Nordea Investment Management AB raised its position in Pinterest by 122.1% during the fourth quarter. Nordea Investment Management AB now owns 3,807,269 shares of the company’s stock valued at $111,515,000 after acquiring an additional 2,093,248 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.