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

Pinterest (NYSE:PINS) had its price target raised by Royal Bank of Canada from $48.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PINS has been the subject of a number of other research reports. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group decreased their target price on shares of Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Wedbush increased their price target on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Robert W. Baird reduced their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target 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 stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company’s 50 day simple moving average is $31.23 and its 200 day simple moving average is $31.57.

Pinterest (NYSE:PINS) last issued its quarterly earnings results 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 net margin of 51.07% and a return on equity of 9.20%. As a group, analysts anticipate that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the 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 owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total value of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,157 shares of company stock valued at $589,131 over the last 90 days. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in shares of Pinterest in the 4th quarter worth $28,000. GAMMA Investing LLC raised 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 position in shares of Pinterest in the third quarter valued at $37,000. Crewe Advisors LLC boosted its stake in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in 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 during the last quarter. Institutional investors 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.