Pinterest (NYSE:PINS) Price Target Raised to $42.00

Pinterest (NYSE:PINS) had its price target upped by Raymond James from $34.00 to $42.00 in a research report report published on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

PINS has been the subject of a number of other research reports. Robert W. Baird reduced their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Pinterest in a report on Tuesday, December 10th. KeyCorp increased their target price on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Pinterest in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.86.

Pinterest Stock Up 19.1 %

PINS stock opened at $40.02 on Friday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm’s 50-day simple moving average is $31.43 and its 200 day simple moving average is $31.50. The stock has a market cap of $27.04 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

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

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total transaction of $118,733.60. Following the completion of the sale, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the transaction, the director now directly owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,157 shares of company stock valued at $589,131 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PINS. Whipplewood Advisors LLC acquired a new stake in shares of Pinterest during the 4th quarter valued at about $28,000. GAMMA Investing LLC raised its position 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 in the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest in the third quarter valued at approximately $37,000. Crewe Advisors LLC grew its position in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after acquiring an additional 550 shares in the last quarter. Finally, True Wealth Design LLC increased its position in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the last quarter. Hedge funds and other 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.