Pinterest, Inc. (NYSE:PINS) Receives $42.50 Consensus Price Target from Brokerages

Pinterest, Inc. (NYSE:PINS) has been assigned an average recommendation of “Moderate Buy” from the thirty analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.79.

PINS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Pinterest in a research report on Monday. They set a “buy” rating and a $43.00 target price for the company. Benchmark restated a “hold” rating on shares of Pinterest in a report on Wednesday, July 31st. Raymond James decreased their price target on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Barclays decreased their price target on Pinterest from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st.

Pinterest Price Performance

NYSE PINS opened at $30.45 on Tuesday. The company has a 50-day moving average of $32.36 and a 200-day moving average of $36.71. The company has a market cap of $20.80 billion, a P/E ratio of 145.00, a P/E/G ratio of 3.22 and a beta of 1.00. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $853.68 million during the quarter, compared to the consensus estimate of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. As a group, equities research analysts anticipate that Pinterest will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PINS. Norges Bank acquired a new position in shares of Pinterest during the fourth quarter valued at $241,229,000. Wellington Management Group LLP increased its holdings in shares of Pinterest by 1,188.9% during the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after purchasing an additional 5,524,796 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Pinterest by 128.2% during the first quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after purchasing an additional 3,134,776 shares during the period. Franklin Resources Inc. increased its holdings in shares of Pinterest by 34.0% during the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after purchasing an additional 2,548,925 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in shares of Pinterest during the second quarter valued at $98,655,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.