Pinterest (NYSE:PINS) Receives Buy Rating from Guggenheim

Pinterest (NYSE:PINS)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a report issued on Tuesday,Benzinga reports.

Several other equities analysts also recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $41.00 target price (up from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. KeyCorp dropped their price objective on shares of Pinterest from $46.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Rosenblatt Securities increased their target price on Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.17.

Pinterest Price Performance

PINS traded up $0.32 during trading on Tuesday, hitting $31.32. 1,910,048 shares of the stock traded hands, compared to its average volume of 10,034,704. The firm has a market capitalization of $21.24 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The firm has a 50-day moving average of $34.67 and a 200 day moving average of $32.42. Pinterest has a 12-month low of $27.00 and a 12-month 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 the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, equities analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, CAO Andrea Acosta sold 3,667 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total value of $45,068.50. Following the sale, the director now owns 29,086 shares in the company, valued at approximately $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its position in Pinterest by 63.4% in the third quarter. Cerity Partners LLC now owns 52,357 shares of the company’s stock worth $1,695,000 after purchasing an additional 20,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pinterest by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,982 shares of the company’s stock valued at $4,013,000 after purchasing an additional 1,008 shares during the period. Hantz Financial Services Inc. increased its position in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after acquiring an additional 339 shares in the last quarter. Captrust Financial Advisors increased its holdings in Pinterest by 23.9% during the 3rd quarter. Captrust Financial Advisors now owns 50,406 shares of the company’s stock worth $1,632,000 after purchasing an additional 9,730 shares in the last quarter. Finally, Paloma Partners Management Co lifted its stake in Pinterest by 1,328.6% in the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the company’s stock valued at $1,942,000 after acquiring an additional 55,800 shares in the last quarter. Institutional investors and hedge funds 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.