Pinterest (NYSE:PINS) PT Raised to $38.00 at Sanford C. Bernstein

Pinterest (NYSE:PINS) had its price target boosted by Sanford C. Bernstein from $35.00 to $38.00 in a research report report published on Wednesday, Benzinga reports. They currently have a market perform rating on the stock.

A number of other research firms also recently issued reports on PINS. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Piper Sandler increased their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Evercore ISI upped their target price on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a report on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest has a consensus rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Performance

Shares of NYSE PINS opened at $40.41 on Wednesday. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 192.44, a PEG ratio of 4.64 and a beta of 0.99. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm’s 50-day simple moving average is $34.79 and its 200 day simple moving average is $34.53.

Pinterest (NYSE:PINS) last issued its quarterly earnings data 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 the consensus estimate of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, sell-side analysts predict that Pinterest will post 0.43 EPS for the current year.

Insider Activity

In related news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the sale, the insider now owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Pinterest in the fourth quarter worth about $27,000. Rakuten Securities Inc. bought a new position in Pinterest during the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. increased its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Quent Capital LLC lifted its position 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 purchasing an additional 460 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Pinterest in the third quarter worth $41,000. 88.81% of the stock is owned by 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.