Sanford C. Bernstein Raises Pinterest (NYSE:PINS) Price Target to $38.00

Pinterest (NYSE:PINS) had its price objective boosted by Sanford C. Bernstein from $35.00 to $38.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other research analysts have also issued reports on the company. Roth Mkm boosted their price objective on Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a report on Wednesday. Wedbush increased their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday. Evercore ISI lifted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. Finally, BMO Capital Markets upped their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Price Performance

PINS stock opened at $40.40 on Wednesday. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 5.55 and a beta of 0.99. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The firm has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $34.48.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. As a group, analysts expect that Pinterest will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. In the last three months, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Pinterest in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest in the fourth quarter valued at $30,000. Washington Trust Advisors Inc. boosted its position in shares of Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the period. Quent Capital LLC grew its holdings in shares of Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new position in Pinterest during the third quarter valued at $41,000. Institutional investors and hedge funds 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.