Royal Bank of Canada Reaffirms “Outperform” Rating for Pinterest (NYSE:PINS)

Royal Bank of Canada reaffirmed their outperform rating on shares of Pinterest (NYSE:PINS) in a research note published on Monday morning, Benzinga reports. Royal Bank of Canada currently has a $52.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Pinterest from $48.00 to $49.00 and gave the company an overweight rating in a research report on Tuesday, June 25th. Rosenblatt Securities reissued a buy rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Pinterest from $44.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Wolfe Research started coverage on shares of Pinterest in a research note on Tuesday, July 16th. They issued a peer perform rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $42.07.

Pinterest Stock Down 2.2 %

Shares of PINS stock opened at $31.24 on Monday. The firm has a 50 day moving average price of $41.72 and a two-hundred day moving average price of $38.44. The company has a market capitalization of $21.34 billion, a PE ratio of 148.77, a price-to-earnings-growth ratio of 3.12 and a beta of 0.97. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 7.04%. The company had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts expect that Pinterest will post 0.44 EPS for the current year.

Insider Activity at Pinterest

In other news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total transaction of $81,711.50. Following the transaction, the director now owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Andrea Acosta sold 2,564 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $115,380.00. Following the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at approximately $8,410,770. The disclosure for this sale can be found here. Insiders have sold a total of 50,250 shares of company stock worth $2,191,304 over the last quarter. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Pinterest in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC lifted its position in Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after acquiring an additional 459 shares in the last quarter. Rothschild Investment LLC bought a new position in Pinterest in the 2nd quarter valued at about $35,000. Rakuten Securities Inc. bought a new position in Pinterest in the 4th quarter valued at about $30,000. Finally, International Assets Investment Management LLC purchased a new stake in Pinterest in the 2nd quarter valued at about $40,000. 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.