Pinterest (NYSE:PINS) Price Target Increased to $38.00 by Analysts at Sanford C. Bernstein

Pinterest (NYSE:PINS) had its price target upped by Sanford C. Bernstein from $35.00 to $38.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other equities analysts have also weighed in on PINS. Susquehanna upped their price objective on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a report on Friday, February 9th. Royal Bank of Canada increased their price target on Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday. KeyCorp decreased their price objective on Pinterest from $48.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Roth Mkm upped their target price on Pinterest from $38.00 to $40.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Rosenblatt Securities reissued a buy rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Up 20.8 %

PINS stock opened at $40.40 on Wednesday. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 192.39, a PEG ratio of 4.58 and a beta of 0.99. The company’s fifty day simple moving average is $34.60 and its 200 day simple moving average is $34.40. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The company had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Research analysts expect that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the sale, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock worth $5,773,431 over the last ninety days. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Resonant Capital Advisors LLC bought a new stake in shares of Pinterest during the 1st quarter valued at about $371,000. 1834 Investment Advisors Co. raised its stake in Pinterest by 29.2% in the first quarter. 1834 Investment Advisors Co. now owns 16,442 shares of the company’s stock valued at $570,000 after purchasing an additional 3,714 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Pinterest by 7.6% during the first quarter. Janney Montgomery Scott LLC now owns 59,678 shares of the company’s stock valued at $2,069,000 after purchasing an additional 4,237 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in Pinterest in the 1st quarter worth approximately $1,516,000. Finally, TFC Financial Management Inc. grew its stake in Pinterest by 33.5% in the 1st quarter. TFC Financial Management Inc. now owns 5,170 shares of the company’s stock worth $179,000 after buying an additional 1,297 shares in the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

About Pinterest

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.