Pinterest’s (PINS) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Pinterest (NYSE:PINS) in a research note published on Tuesday morning,Benzinga reports.

PINS has been the topic of a number of other research reports. Roth Capital set a $32.00 price objective on Pinterest in a report on Monday, February 3rd. Wedbush increased their price target on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada boosted their price target on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus price target of $43.17.

Pinterest Stock Up 0.1 %

Shares of NYSE:PINS opened at $31.02 on Tuesday. Pinterest has a fifty-two week low of $27.00 and a fifty-two week high of $45.19. The firm’s 50 day moving average price is $34.65 and its 200 day moving average price is $32.44. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 11.53, 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 for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. On average, equities analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, insider Wanjiku Juanita Walcott sold 12,253 shares of Pinterest stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $32.24, for a total transaction of $395,036.72. Following the completion of the transaction, the insider now owns 228,510 shares in the company, valued at approximately $7,367,162.40. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,753 shares of company stock worth $11,640,201. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD grew its holdings in shares of Pinterest by 104.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. State Street Corp raised its holdings in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after acquiring an additional 156,748 shares during the last quarter. FMR LLC lifted its stake in shares of Pinterest by 2.6% during the 4th quarter. FMR LLC now owns 12,599,356 shares of the company’s stock worth $365,381,000 after purchasing an additional 316,633 shares during the period. Finally, Norges Bank acquired a new stake in shares of Pinterest during the fourth quarter worth $358,205,000. Institutional investors and hedge funds 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.