Pinterest (NYSE:PINS) Rating Increased to Buy at Guggenheim

Guggenheim upgraded shares of Pinterest (NYSE:PINS) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports. Guggenheim currently has $40.00 target price on the stock, up from their prior target price of $39.00.

PINS has been the topic of a number of other reports. Wedbush lifted their target price on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, January 10th. Rosenblatt Securities lifted their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley increased their price objective on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.33.

Pinterest Stock Up 5.0 %

Shares of Pinterest stock opened at $34.05 on Monday. The business has a fifty day simple moving average of $34.46 and a 200-day simple moving average of $32.31. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the sale, the director now owns 6,274 shares of the company’s stock, valued at $195,497.84. This represents a 94.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 237,417 shares of company stock valued at $7,803,946. Corporate insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in Pinterest by 7.4% during the 3rd quarter. Empowered Funds LLC now owns 9,165 shares of the company’s stock worth $297,000 after purchasing an additional 635 shares during the last quarter. Quest Partners LLC grew its position in shares of Pinterest by 1,109.4% during the 3rd quarter. Quest Partners LLC now owns 9,796 shares of the company’s stock worth $317,000 after buying an additional 8,986 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Pinterest during the third quarter worth approximately $458,000. Commerce Bank lifted its holdings in Pinterest by 3.3% in the third quarter. Commerce Bank now owns 11,868 shares of the company’s stock valued at $384,000 after buying an additional 378 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Pinterest by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 844,187 shares of the company’s stock valued at $27,326,000 after acquiring an additional 32,539 shares during 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.