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

Pinterest (NYSE:PINS) had its price target boosted by Royal Bank of Canada from $48.00 to $50.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 24.95% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and increased their target price for the company from $34.00 to $47.00 in a report on Friday. Cantor Fitzgerald boosted their price target on Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen began coverage on Pinterest in a report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and issued a $41.00 target price (up from $36.00) on shares of Pinterest in a research note on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.66.

Pinterest Price Performance

Shares of PINS stock traded up $6.43 during trading on Friday, reaching $40.02. The company’s stock had a trading volume of 44,233,423 shares, compared to its average volume of 12,035,941. The company has a market capitalization of $27.04 billion, a price-to-earnings ratio of 132.96, a P/E/G ratio of 1.68 and a beta of 1.06. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The stock’s 50-day moving average price is $31.23 and its 200 day moving average price is $31.57.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS 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%. On average, sell-side analysts anticipate that Pinterest will post 0.42 EPS for the current fiscal year.

Insider Transactions at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the sale, the director now directly owns 30,236 shares in the company, valued at approximately $920,081.48. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock valued at $589,131 over the last 90 days. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its holdings in Pinterest by 5.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after acquiring an additional 313 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Pinterest by 3.7% during the third quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after purchasing an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Pinterest by 2.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock worth $366,000 after purchasing an additional 342 shares during the last quarter. Ethos Financial Group LLC boosted its stake in Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock valued at $342,000 after purchasing an additional 350 shares during the period. Finally, Amalgamated Bank grew its holdings in Pinterest by 0.9% in the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock valued at $1,154,000 after buying an additional 372 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

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.