Pinterest (NYSE:PINS) Stock Rating Reaffirmed by Piper Sandler

Pinterest (NYSE:PINS)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $45.00 target price on the stock. Piper Sandler’s price target suggests a potential upside of 55.93% from the stock’s current price.

Several other research analysts have also commented on PINS. Susquehanna decreased their price target on shares of Pinterest from $50.00 to $45.00 and set a “positive” rating for the company in a report on Wednesday, July 31st. Barclays decreased their target price on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Cantor Fitzgerald started coverage on Pinterest in a research report on Thursday, September 5th. They set an “overweight” rating and a $41.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $48.00 price objective on shares of Pinterest in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on Pinterest from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Eight 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, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Pinterest Stock Performance

NYSE:PINS opened at $28.86 on Friday. The stock has a 50-day simple moving average of $33.86 and a 200 day simple moving average of $36.96. Pinterest has a one year low of $23.59 and a one year high of $45.19. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of 137.44, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00.

Pinterest (NYSE:PINS) last issued its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The company had revenue of $853.68 million during the quarter, compared to analyst estimates of $848.75 million. During the same quarter last year, the firm earned ($0.04) EPS. The business’s revenue was up 20.6% on a year-over-year basis. On average, equities research analysts forecast that Pinterest will post 0.39 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the completion of the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Andrea Acosta sold 2,564 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the transaction, the chief financial officer now owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The disclosure for this sale can be found here. Corporate insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds have recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new stake in Pinterest during the second quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Pinterest during the second quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its stake in Pinterest by 113.4% during the second quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after buying an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Pinterest during the second quarter valued at about $35,000. 88.81% of the stock is owned by hedge funds and other institutional investors.

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.