The Goldman Sachs Group Forecasts Strong Price Appreciation for Pinterest (NYSE:PINS) Stock

Pinterest (NYSE:PINS) had its price target increased by research analysts at The Goldman Sachs Group from $42.00 to $47.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 18.98% from the stock’s current price.

PINS has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Friday, January 10th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Raymond James upped their price objective on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Robert W. Baird dropped their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.31.

Pinterest Stock Performance

Pinterest stock traded up $5.91 during mid-day trading on Friday, reaching $39.50. The company’s stock had a trading volume of 38,871,622 shares, compared to its average volume of 11,818,846. The company has a market capitalization of $26.70 billion, a price-to-earnings ratio of 131.54, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The business’s 50 day simple moving average is $31.23 and its 200 day simple moving average is $31.57.

Pinterest (NYSE:PINS) last released its 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, sell-side analysts expect that Pinterest will post 0.42 EPS for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated 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 $967,295.28. This trade represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock worth $589,131 in the last three months. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PINS. Whipplewood Advisors LLC purchased a new position in shares of Pinterest in the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after buying an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Pinterest during the 3rd quarter worth approximately $37,000. Crewe Advisors LLC grew its stake in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after buying an additional 550 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.