Pinterest (NYSE:PINS) Given New $47.00 Price Target at The Goldman Sachs Group

Pinterest (NYSE:PINS) had its target price increased by The Goldman Sachs Group from $42.00 to $47.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on PINS. Morgan Stanley increased their price target on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $41.00 target price (up previously from $36.00) on shares of Pinterest in a report on Friday. KeyCorp increased their price target on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Sanford C. Bernstein raised shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $47.00 in a report on Friday. Finally, Cantor Fitzgerald boosted their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Pinterest Stock Up 19.1 %

NYSE PINS opened at $40.02 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market cap of $27.04 billion, a PE ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06. The business’s fifty day simple moving average is $31.43 and its 200-day simple moving average is $31.50.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Research analysts expect that Pinterest will post 0.59 EPS for the current year.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares of the company’s stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the completion of the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at $4,893,491.84. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,157 shares of company stock valued at $589,131. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new stake in shares of Pinterest in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Pinterest in the 3rd quarter worth approximately $37,000. Crewe Advisors LLC increased its position in shares of Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors 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.