Pinterest (NYSE:PINS) Price Target Raised to $50.00

Pinterest (NYSE:PINS) had its target price increased by Oppenheimer from $40.00 to $50.00 in a report published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. UBS Group lowered their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price objective on Pinterest from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities raised their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler reissued a “neutral” rating and issued a $41.00 price target (up from $36.00) on shares of Pinterest in a research note on Friday. Finally, Cantor Fitzgerald raised their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Pinterest Price Performance

Shares of NYSE PINS opened at $40.02 on Friday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The firm has a market cap of $27.04 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company has a 50 day simple moving average of $31.43 and a 200 day simple moving average of $31.50.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 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%. As a group, research analysts anticipate that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Maverick Capital Ltd. grew its position in Pinterest by 47.6% during the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Pinterest by 8.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after acquiring an additional 119,367 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock worth $137,669,000 after purchasing an additional 87,041 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of Pinterest by 20.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares during the period. 88.81% of the stock is currently owned by 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.