Loop Capital Boosts Pinterest (NYSE:PINS) Price Target to $49.00

Pinterest (NYSE:PINS) had its price objective lifted by research analysts at Loop Capital from $43.00 to $49.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price objective would suggest a potential upside of 20.57% from the company’s previous close.

Several other brokerages have also recently commented on PINS. Sanford C. Bernstein boosted their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Susquehanna lifted their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Wells Fargo & Company increased their price objective on Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. 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 nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.26.

Pinterest Trading Up 0.6 %

PINS traded up $0.23 during trading hours on Monday, hitting $40.64. The company’s stock had a trading volume of 5,118,707 shares, compared to its average volume of 10,092,323. Pinterest has a fifty-two week low of $20.88 and a fifty-two week high of $41.60. The company has a 50-day simple moving average of $34.79 and a 200 day simple moving average of $34.58. The firm has a market capitalization of $27.76 billion, a PE ratio of 194.06, a PEG ratio of 4.02 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. Research analysts expect that Pinterest will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the transaction, the director now directly owns 33,580 shares of the company’s stock, valued at approximately $1,145,078. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of hedge funds have recently made changes to their positions in PINS. Legacy Capital Group California Inc. raised its position in Pinterest by 1.7% in the fourth quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after purchasing an additional 267 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of Pinterest by 0.7% during the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after buying an additional 324 shares during the period. Washington Trust Advisors Inc. boosted 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 valued at $38,000 after buying an additional 326 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Pinterest by 0.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after acquiring an additional 348 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Pinterest by 40.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

About Pinterest

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.