Pinterest (NYSE:PINS) Rating Reiterated by Piper Sandler

Pinterest (NYSE:PINSGet Free Report)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They currently have a $52.00 price objective on the stock. Piper Sandler’s price objective would indicate a potential upside of 19.57% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Citigroup raised their price objective on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Roth Mkm lifted their price target on Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein boosted their price objective on Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Benchmark reiterated a “hold” rating on shares of Pinterest in a report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.34.

Check Out Our Latest Stock Analysis on Pinterest

Pinterest Stock Up 0.6 %

Pinterest stock traded up $0.26 during midday trading on Friday, hitting $43.49. The company’s stock had a trading volume of 3,793,900 shares, compared to its average volume of 9,659,538. Pinterest has a 12 month low of $23.59 and a 12 month high of $44.64. The company has a market capitalization of $29.71 billion, a PE ratio of 206.72, a price-to-earnings-growth ratio of 4.31 and a beta of 0.97. The stock’s 50-day moving average price is $38.93 and its 200-day moving average price is $37.12.

Pinterest (NYSE:PINSGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $739.98 million for the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, equities analysts anticipate that Pinterest will post 0.44 EPS for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares in the company, valued at approximately $1,255,332. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the transaction, the director now owns 29,712 shares in the company, valued at approximately $1,255,332. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 30,221 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $35.45, for a total transaction of $1,071,334.45. Following the sale, the chief financial officer now owns 327,358 shares of the company’s stock, valued at $11,604,841.10. The disclosure for this sale can be found here. Insiders have sold a total of 67,650 shares of company stock worth $2,466,665 over the last three months. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently modified their holdings of PINS. ARK Investment Management LLC raised its holdings in Pinterest by 152.3% in the 4th quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock valued at $53,507,000 after acquiring an additional 872,016 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after purchasing an additional 323,547 shares in the last quarter. International Assets Investment Management LLC lifted its position in Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares during the period. Acadian Asset Management LLC lifted its position in Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after purchasing an additional 1,089,299 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Pinterest by 55.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock valued at $6,477,000 after buying an additional 62,117 shares during the period. 88.81% of the stock is owned by institutional investors.

About Pinterest

(Get Free Report)

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.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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