Pinterest, Inc. (NYSE:PINS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have earned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.97.

PINS has been the topic of several recent analyst reports. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday, January 18th. KeyCorp raised their price objective on Pinterest from $37.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their price objective on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wedbush raised their target price on Pinterest from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $48.00 price objective on shares of Pinterest in a research note on Tuesday, March 26th.

Pinterest Stock Performance

PINS opened at $32.40 on Friday. The company has a market cap of $22.00 billion, a PE ratio of -539.91, a price-to-earnings-growth ratio of 4.49 and a beta of 0.99. The stock has a 50-day moving average of $34.79 and a 200-day moving average of $33.97. Pinterest has a 52-week low of $20.60 and a 52-week high of $41.60.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, research analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.59, for a total transaction of $751,800.00. Following the completion of the transaction, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,471 shares of company stock valued at $6,525,231. Company insiders own 6.85% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently made changes to their positions in PINS. Norden Group LLC acquired a new position in Pinterest in the first quarter valued at about $214,000. Azzad Asset Management Inc. ADV raised its position in shares of Pinterest by 0.6% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 116,776 shares of the company’s stock valued at $4,049,000 after acquiring an additional 753 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Pinterest by 45.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,735,384 shares of the company’s stock worth $198,846,000 after acquiring an additional 1,798,494 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Pinterest by 195.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,151 shares of the company’s stock valued at $75,000 after purchasing an additional 1,422 shares during the period. Finally, Diversified Trust Co increased its stake in Pinterest by 27.8% in the first quarter. Diversified Trust Co now owns 21,220 shares of the company’s stock valued at $736,000 after purchasing an additional 4,619 shares in the last quarter. 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.