Brokerages Set Pinterest, Inc. (NYSE:PINS) Target Price at $43.32

Pinterest, Inc. (NYSE:PINS) has been given a consensus rating of “Moderate Buy” by the thirty analysts that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $43.32.

Several equities research analysts have weighed in on PINS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Thursday, September 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $48.00 target price on shares of Pinterest in a research report on Wednesday, July 31st. Citigroup cut their price objective on Pinterest from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley upped their target price on Pinterest from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research began coverage on Pinterest in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock.

Pinterest Stock Performance

Shares of Pinterest stock opened at $33.98 on Friday. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 161.81, a price-to-earnings-growth ratio of 2.61 and a beta of 1.01. The stock has a 50 day moving average price of $31.16 and a 200-day moving average price of $36.54. Pinterest has a one year low of $23.59 and a one year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Tuesday, July 30th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a return on equity of 6.94% and a net margin of 5.75%. The firm had revenue of $853.68 million during the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the previous year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. Sell-side analysts predict that Pinterest will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $32.72, for a total transaction of $990,761.60. Following the completion of the sale, the chief financial officer now directly owns 297,351 shares of the company’s stock, valued at $9,729,324.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently added to or reduced their stakes in the business. Brown Shipley& Co Ltd bought a new position in Pinterest during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in Pinterest in the 2nd quarter valued at about $26,000. Hexagon Capital Partners LLC lifted its stake in shares of Pinterest by 157.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock worth $33,000 after acquiring an additional 459 shares during the period. GAMMA Investing LLC boosted its stake in Pinterest by 113.4% during the 2nd quarter. GAMMA Investing LLC now owns 762 shares of the company’s stock valued at $34,000 after purchasing an additional 405 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Pinterest during the second quarter worth about $35,000. 88.81% of the stock is 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.