Cantor Fitzgerald Forecasts Strong Price Appreciation for Pinterest (NYSE:PINS) Stock

Pinterest (NYSE:PINS) had its price target hoisted by Cantor Fitzgerald from $36.00 to $48.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $47.00 in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Pinterest in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Pinterest in a report on Tuesday, January 28th. Roth Mkm cut their target price on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Price Performance

Shares of NYSE PINS opened at $40.02 on Friday. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The company has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06. The company has a 50 day simple moving average of $31.23 and a 200-day simple moving average of $31.57.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. As a group, research analysts expect that Pinterest will post 0.59 EPS for the current year.

Insider Activity

In other news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now owns 30,236 shares in the company, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the company’s 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 of the company’s stock, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. State Street Corp grew its position in shares of Pinterest by 1.2% during the third quarter. State Street Corp now owns 12,773,652 shares of the company’s stock worth $413,483,000 after acquiring an additional 156,748 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pinterest by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after purchasing an additional 76,920 shares during the period. Ontario Teachers Pension Plan Board grew its position in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after purchasing an additional 2,996,750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after purchasing an additional 460,708 shares during the period. Finally, Ninety One UK Ltd raised its holdings in shares of Pinterest by 5.4% in the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock valued at $158,677,000 after buying an additional 278,362 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.