Pinterest (NYSE:PINS) Stock Price Expected to Rise, KeyCorp Analyst Says

Pinterest (NYSE:PINS) had its price target boosted by equities researchers at KeyCorp from $37.00 to $40.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 36.85% from the company’s current price.

Several other equities analysts also recently weighed in on PINS. Morgan Stanley dropped their price target on Pinterest from $42.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Bank of America cut their target price on shares of Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities raised their price target on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Roth Capital set a $32.00 price target on shares of Pinterest in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.27.

Pinterest Stock Up 4.9 %

Shares of PINS stock opened at $29.23 on Friday. The stock has a market cap of $19.82 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19. The business has a fifty day simple moving average of $28.84 and a 200-day simple moving average of $31.21.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $854.99 million for the quarter, compared to analyst estimates of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. On average, sell-side analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total value of $31,050.00. Following the sale, the director now owns 26,786 shares in the company, valued at approximately $723,222. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrea Acosta sold 3,667 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the transaction, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 453,836 shares of company stock worth $14,828,392. Insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest during the first quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in shares of Pinterest in the 1st quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at $28,000. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after acquiring an additional 999 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.