Piper Sandler Reaffirms “Neutral” Rating for Pinterest (NYSE:PINS)

Pinterest (NYSE:PINS)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a report issued on Friday,Benzinga reports. They currently have a $41.00 target price on the stock, up from their prior target price of $36.00. Piper Sandler’s target price would suggest a potential upside of 2.88% from the company’s current price.

A number of other research analysts have also recently commented on PINS. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday. Roth Mkm decreased their price target on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company cut their price objective on Pinterest from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Pinterest in a report on Tuesday, January 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and an average price target of $41.89.

Pinterest Price Performance

NYSE:PINS opened at $39.85 on Friday. The firm has a market cap of $26.93 billion, a price-to-earnings ratio of 132.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The firm’s fifty day moving average price is $31.17 and its 200 day moving average price is $31.55. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. As a group, analysts expect that Pinterest will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at approximately $967,295.28. This trade represents a 3.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the sale, the insider now owns 246,921 shares of the company’s stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,157 shares of company stock worth $589,131. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. lifted its stake in Pinterest by 47.6% in the third quarter. Maverick Capital Ltd. now owns 57,180 shares of the company’s stock valued at $1,851,000 after buying an additional 18,430 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Pinterest by 8.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,540,152 shares of the company’s stock valued at $49,855,000 after acquiring an additional 119,367 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pinterest by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Pinterest by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,252,996 shares of the company’s stock valued at $137,669,000 after acquiring an additional 87,041 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Pinterest by 20.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 404,296 shares of the company’s stock worth $13,087,000 after purchasing an additional 68,096 shares during the period. 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.