Pinterest (NYSE:PINS) Price Target Increased to $48.00 by Analysts at Wells Fargo & Company

Pinterest (NYSE:PINS) had its price target hoisted by Wells Fargo & Company from $47.00 to $48.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on PINS. Rosenblatt Securities restated a buy rating and issued a $48.00 target price (up from $45.00) on shares of Pinterest in a research note on Wednesday. Sanford C. Bernstein boosted their target price on Pinterest from $35.00 to $38.00 and gave the company a market perform rating in a research note on Wednesday. Evercore ISI raised their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a report on Friday, January 26th. Argus upgraded shares of Pinterest from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Thursday, January 18th. Finally, Stifel Nicolaus increased their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest has a consensus rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Trading Down 0.2 %

NYSE:PINS opened at $40.41 on Wednesday. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60. The stock’s 50-day moving average is $34.79 and its 200-day moving average is $34.53. The stock 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 (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analyst estimates of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. As a group, equities analysts forecast that Pinterest will post 0.43 EPS for the current year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 over the last three months. 7.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. GAMMA Investing LLC bought a new position in Pinterest during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. purchased a new position in shares of Pinterest in the fourth quarter worth approximately $30,000. Washington Trust Advisors Inc. grew its position in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after buying an additional 326 shares during the period. Quent Capital LLC increased its stake in shares of Pinterest by 71.2% in 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pinterest in the fourth quarter worth about $43,000. 88.81% of the stock is owned by institutional investors.

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.