Pinterest (NYSE:PINS) Price Target Raised to $49.00

Pinterest (NYSE:PINS) had its target price boosted by Wells Fargo & Company from $48.00 to $49.00 in a report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

PINS has been the topic of a number of other research reports. Citigroup raised their price target on Pinterest from $48.00 to $51.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Piper Sandler restated an overweight rating and issued a $52.00 price target on shares of Pinterest in a research report on Friday, June 14th. Rosenblatt Securities restated a buy rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. Sanford C. Bernstein raised their price target on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a research report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest presently has a consensus rating of Moderate Buy and a consensus price target of $41.37.

Pinterest Price Performance

PINS stock opened at $44.07 on Tuesday. The stock has a market capitalization of $30.10 billion, a price-to-earnings ratio of 209.84, a PEG ratio of 4.35 and a beta of 0.97. The business’s fifty day moving average price is $41.22 and its two-hundred day moving average price is $37.88. Pinterest has a fifty-two week low of $23.59 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. The firm had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Research analysts expect that Pinterest will post 0.44 EPS for the current year.

Insider Activity

In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.90, for a total value of $168,795.50. Following the transaction, the chief accounting officer now directly owns 189,470 shares of the company’s stock, valued at $8,317,733. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,627 shares of Pinterest stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.42, for a total value of $481,590.34. Following the completion of the transaction, the insider now directly owns 307,256 shares in the company, valued at $12,726,543.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,904 shares of company stock valued at $1,613,557. 7.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently made changes to their positions in PINS. GAMMA Investing LLC acquired a new position in Pinterest in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the fourth quarter valued at approximately $30,000. Washington Trust Advisors Inc. lifted its stake in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the period. Quent Capital LLC lifted its stake in Pinterest by 71.2% in the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Pinterest in the fourth quarter valued at approximately $43,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.