Rosenblatt Securities Reaffirms Buy Rating for Pinterest (NYSE:PINS)

Rosenblatt Securities reiterated their buy rating on shares of Pinterest (NYSE:PINSFree Report) in a report published on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $45.00 price target on the stock.

Several other equities research analysts also recently issued reports on PINS. Royal Bank of Canada upgraded shares of Pinterest from a sector perform rating to an outperform rating and raised their price objective for the stock from $32.00 to $46.00 in a research note on Monday, December 11th. JPMorgan Chase & Co. lifted their price objective on Pinterest from $32.00 to $34.00 and gave the stock a neutral rating in a report on Tuesday, October 31st. KeyCorp lifted their price objective on Pinterest from $37.00 to $48.00 and gave the stock an overweight rating in a report on Monday, February 5th. Evercore ISI lifted their price objective on Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a report on Friday, January 26th. Finally, BMO Capital Markets started coverage on Pinterest in a report on Tuesday, January 9th. They set an outperform rating and a $45.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Pinterest currently has an average rating of Moderate Buy and an average target price of $37.52.

Read Our Latest Research Report on PINS

Pinterest Stock Down 9.5 %

Shares of PINS stock opened at $36.87 on Friday. Pinterest has a 12 month low of $20.60 and a 12 month high of $41.60. The business’s 50 day moving average is $37.15 and its two-hundred day moving average is $31.29. The company has a market cap of $24.86 billion, a PE ratio of -614.40, a price-to-earnings-growth ratio of 3.78 and a beta of 1.02.

Insider Activity

In other news, insider Christine Deputy sold 22,459 shares of Pinterest stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.27, for a total value of $837,046.93. Following the sale, the insider now directly owns 222,881 shares in the company, valued at $8,306,774.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, insider Christine Deputy sold 22,459 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $37.27, for a total transaction of $837,046.93. Following the transaction, the insider now owns 222,881 shares of the company’s stock, valued at approximately $8,306,774.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $32.28, for a total value of $368,314.80. Following the transaction, the insider now directly owns 216,326 shares in the company, valued at approximately $6,983,003.28. The disclosure for this sale can be found here. Insiders have sold 77,737 shares of company stock worth $2,826,987 over the last ninety days. Insiders own 6.85% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD increased its position in Pinterest by 372.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,073,874 shares of the company’s stock worth $487,394,000 after buying an additional 15,825,757 shares during the last quarter. Renaissance Technologies LLC increased its position in Pinterest by 262.8% during the first quarter. Renaissance Technologies LLC now owns 11,515,600 shares of the company’s stock worth $283,399,000 after buying an additional 8,341,222 shares during the last quarter. Capital World Investors acquired a new position in Pinterest during the second quarter worth approximately $187,614,000. Norges Bank acquired a new position in Pinterest in the 4th quarter valued at about $241,229,000. Finally, Clearbridge Investments LLC acquired a new position in Pinterest in the 2nd quarter valued at about $147,982,000. Institutional investors and hedge funds own 72.63% of the company’s stock.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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