Pinterest (NYSE:PINS) Given New $40.00 Price Target at Roth Mkm

Pinterest (NYSE:PINS) had its price target boosted by Roth Mkm from $38.00 to $40.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also commented on the stock. Rosenblatt Securities reaffirmed a buy rating and set a $48.00 price objective (up previously from $45.00) on shares of Pinterest in a research report on Wednesday. Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Thursday, January 18th. KeyCorp lowered their target price on Pinterest from $48.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Susquehanna boosted their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada raised their price objective on shares of Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Performance

Shares of PINS opened at $40.40 on Wednesday. The stock has a 50 day moving average price of $34.60 and a 200 day moving average price of $34.40. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. Pinterest has a one year low of $20.60 and a one year high of $41.60.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The firm had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. On average, analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Transactions at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the transaction, the director now owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total value of $65,949.40. Following the transaction, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the sale, the director now owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC purchased a new stake in shares of Pinterest during the 1st quarter worth approximately $371,000. 1834 Investment Advisors Co. boosted its position in shares of Pinterest by 29.2% in the 1st quarter. 1834 Investment Advisors Co. now owns 16,442 shares of the company’s stock worth $570,000 after buying an additional 3,714 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Pinterest by 7.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after acquiring an additional 4,237 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Pinterest during the 1st quarter valued at about $1,516,000. Finally, TFC Financial Management Inc. raised its position in Pinterest by 33.5% during the first quarter. TFC Financial Management Inc. now owns 5,170 shares of the company’s stock worth $179,000 after acquiring an additional 1,297 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.