Pinterest (NYSE:PINS) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $48.00 target price on the stock, up from their prior target price of $45.00.

Several other equities research analysts also recently commented on PINS. KeyCorp cut their target price on shares of Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price objective on Pinterest from $34.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. Argus raised Pinterest from a hold rating to a buy rating and set a $45.00 target price for the company in a research report on Thursday, January 18th. Evercore ISI upped their price target on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. Finally, Susquehanna raised their price objective on Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Pinterest presently has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Performance

Pinterest stock opened at $40.40 on Wednesday. The stock has a fifty day moving average of $34.60 and a 200-day moving average of $34.40. The stock has a market capitalization of $27.43 billion, a P/E ratio of 192.39, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. On average, research analysts forecast that Pinterest will post 0.36 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total transaction of $733,000.00. Following the completion of the sale, the director now owns 54,215 shares in the company, valued at $1,986,979.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey D. Jordan sold 20,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total transaction of $733,000.00. Following the transaction, the director now directly owns 54,215 shares in the company, valued at $1,986,979.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock worth $5,773,431 over the last 90 days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new stake in shares of Pinterest during the 4th quarter worth $27,000. Rakuten Securities Inc. bought a new stake in Pinterest in the fourth quarter worth about $30,000. Washington Trust Advisors Inc. boosted its stake in Pinterest by 46.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Pinterest during the 3rd quarter valued at approximately $41,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pinterest during the 4th quarter valued at approximately $43,000. 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.