Pinterest (NYSE:PINS) Price Target Raised to $48.00

Pinterest (NYSE:PINS) had its target price raised by Cantor Fitzgerald from $36.00 to $48.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also commented on PINS. Raymond James lifted their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen initiated coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Pinterest in a report on Friday. Rosenblatt Securities increased their price objective on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday. Finally, Roth Mkm decreased their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Trading Up 19.1 %

NYSE PINS opened at $40.02 on Friday. The company’s fifty day simple moving average is $31.43 and its 200-day simple moving average is $31.50. The stock has a market cap 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:PINS) last released its quarterly earnings results 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 Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the transaction, the insider now directly 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 90 days, insiders have sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Pinterest in the third quarter valued at approximately $37,000. Crewe Advisors LLC raised its stake in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.