Pinterest (NYSE:PINS) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Pinterest (NYSE:PINS) had its target price lifted by analysts at Rosenblatt Securities from $46.00 to $51.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target suggests a potential upside of 51.79% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley boosted their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a report on Friday. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a research note on Tuesday, December 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Pinterest in a report on Tuesday, January 28th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.71.

Pinterest Price Performance

Shares of NYSE:PINS opened at $33.60 on Friday. The business has a 50-day moving average of $31.17 and a two-hundred day moving average of $31.55. The firm has a market capitalization of $22.71 billion, a PE ratio of 112.00, a P/E/G ratio of 1.68 and a beta of 1.06. 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 data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.37% and a net margin of 6.21%. As a group, research analysts anticipate that Pinterest will post 0.42 earnings per share for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares of the company’s stock, valued at approximately $972,338.28. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. This represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,157 shares of company stock valued at $589,131. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the period. Geode Capital Management LLC boosted its stake in Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock valued at $305,710,000 after buying an additional 76,920 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock worth $192,423,000 after acquiring an additional 460,708 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in Pinterest by 5.4% in the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after acquiring an additional 278,362 shares during 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.