Pinterest (NYSE:PINS) Given New $50.00 Price Target at Piper Sandler

Pinterest (NYSE:PINS) had its price target boosted by Piper Sandler from $48.00 to $50.00 in a research note released on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also recently issued reports on PINS. Stifel Nicolaus lifted their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a research note on Wednesday. Evercore ISI raised their target price on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. JPMorgan Chase & Co. lifted their price target on Pinterest from $34.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Rosenblatt Securities reissued a buy rating and issued a $48.00 price objective (up from $45.00) on shares of Pinterest in a research note on Wednesday. Finally, Roth Mkm boosted their price target on shares of Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Performance

Shares of Pinterest stock opened at $40.41 on Wednesday. The firm has a 50-day simple moving average of $34.79 and a two-hundred day simple moving average of $34.53. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The company has a market cap of $27.44 billion, a P/E ratio of 192.44, a price-to-earnings-growth ratio of 4.64 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Equities research analysts forecast that Pinterest will post 0.43 EPS for the current year.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the transaction, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction that occurred 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 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. Over the last ninety days, insiders sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Several large investors have recently bought and sold shares of PINS. Geneos Wealth Management Inc. increased its stake in shares of Pinterest by 26.1% during the first quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock worth $124,000 after buying an additional 737 shares during the period. Essex LLC grew its holdings in Pinterest by 3.6% during the 1st quarter. Essex LLC now owns 35,741 shares of the company’s stock worth $1,239,000 after acquiring an additional 1,237 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Pinterest by 66.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock valued at $145,594,000 after purchasing an additional 1,678,756 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Pinterest by 301.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock valued at $5,176,000 after purchasing an additional 112,107 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 460 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.