Pinterest, Inc. (NYSE:PINS) Receives $37.97 Average Price Target from Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have received an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $37.68.

A number of analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Pinterest in a research report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price for the company. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, January 18th. JPMorgan Chase & Co. raised their price target on Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada lifted their price objective on Pinterest from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $45.00 price target on shares of Pinterest in a research report on Friday, February 9th.

Insider Activity

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the transaction, the director now directly owns 74,215 shares of the company’s stock, valued at approximately $2,789,741.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $37.59, for a total value of $751,800.00. Following the completion of the sale, the director now directly owns 74,215 shares in the company, valued at $2,789,741.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,471 shares of company stock valued at $6,525,231. 6.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of PINS. Norges Bank acquired a new stake in shares of Pinterest during the 4th quarter valued at $241,229,000. Wellington Management Group LLP lifted its position in shares of Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after acquiring an additional 5,524,796 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock valued at $126,286,000 after acquiring an additional 4,670,394 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after acquiring an additional 3,390,924 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after purchasing an additional 2,548,925 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Trading Down 0.5 %

PINS stock opened at $32.85 on Friday. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60. The company has a market capitalization of $22.30 billion, a PE ratio of -547.50, a P/E/G ratio of 4.49 and a beta of 0.99. The business’s fifty day moving average price is $34.68 and its 200 day moving average price is $34.16.

Pinterest (NYSE:PINS) last released its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. Research analysts predict that Pinterest will post 0.36 EPS for the current fiscal year.

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.