Analysts Set Pinterest, Inc. (NYSE:PINS) Price Target at $27.69

Pinterest, Inc. (NYSE:PINS) has earned an average recommendation of “Hold” from the thirty-six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $27.6939.

A number of analysts have recently issued reports on PINS shares. Wedbush assumed coverage on Pinterest in a research report on Thursday, July 16th. They set a “neutral” rating and a $24.00 price objective on the stock. Royal Bank Of Canada raised their target price on Pinterest from $17.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Guggenheim reiterated a “buy” rating and set a $24.00 price target on shares of Pinterest in a research note on Monday, June 15th. Rosenblatt Securities lifted their price target on shares of Pinterest from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Finally, Robert W. Baird boosted their price target on shares of Pinterest from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th.

Insider Transactions at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of Pinterest stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $22.63, for a total transaction of $1,060,781.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $20.46, for a total transaction of $559,315.02. Following the completion of the sale, the insider directly owned 724,673 shares in the company, valued at approximately $14,826,809.58. The trade was a 3.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 323,845 shares of company stock valued at $6,836,065 over the last ninety days. 8.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Pinterest during the 4th quarter worth about $357,945,000. State Street Corp lifted its position in Pinterest by 52.6% during the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after buying an additional 7,412,213 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Pinterest by 30.5% during the 4th quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock worth $694,082,000 after acquiring an additional 6,258,628 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pinterest by 271.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock worth $109,831,000 after acquiring an additional 4,375,000 shares during the last quarter. Finally, Davis Selected Advisers increased its position in Pinterest by 49.5% in the 4th quarter. Davis Selected Advisers now owns 11,801,983 shares of the company’s stock valued at $305,554,000 after acquiring an additional 3,909,926 shares in the last quarter. 88.81% of the stock is currently owned by institutional investors.

Pinterest Stock Up 0.2%

PINS stock opened at $22.18 on Friday. Pinterest has a twelve month low of $13.84 and a twelve month high of $39.93. The company has a market cap of $12.43 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.89. The business’s 50-day simple moving average is $21.20 and its 200 day simple moving average is $20.64. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.34.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same period in the previous year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, research analysts anticipate that Pinterest will post 0.65 earnings per share for the current year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.