Wells Fargo & Company Raises Pinterest (NYSE:PINS) Price Target to $48.00

Pinterest (NYSE:PINS) had its target price hoisted by Wells Fargo & Company from $47.00 to $48.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on PINS. Evercore ISI raised 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. BMO Capital Markets upped their target price on Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a research report on Wednesday. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Wednesday. KeyCorp lowered their target price on shares of Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Finally, Benchmark reissued a hold rating on shares of Pinterest in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $40.82.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $40.41 on Wednesday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The company has a market cap of $27.44 billion, a PE ratio of 192.44, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99. The firm has a 50 day simple moving average of $34.79 and a 200 day simple moving average of $34.53.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. On average, equities analysts predict that Pinterest will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at approximately $1,986,979.75. The disclosure for this sale can be found here. Insiders sold a total of 164,471 shares of company stock worth $5,773,431 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently modified their holdings of the company. AE Wealth Management LLC raised its position in Pinterest by 28.3% in the 3rd quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after purchasing an additional 2,662 shares during the last quarter. Simplicity Solutions LLC lifted its position in Pinterest by 6.8% during the 3rd quarter. Simplicity Solutions LLC now owns 7,981 shares of the company’s stock worth $216,000 after buying an additional 510 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Pinterest by 9.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 142,700 shares of the company’s stock worth $3,857,000 after acquiring an additional 12,300 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Pinterest by 5.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,809 shares of the company’s stock valued at $1,157,000 after acquiring an additional 2,247 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Pinterest by 4.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,215,909 shares of the company’s stock worth $32,866,000 after purchasing an additional 46,821 shares in the last quarter. Institutional investors and hedge funds 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.