Pinterest (NYSE:PINS) Price Target Increased to $45.00 by Analysts at Rosenblatt Securities

Pinterest (NYSE:PINS) had its target price hoisted by Rosenblatt Securities from $38.00 to $45.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

PINS has been the subject of a number of other reports. Wells Fargo & Company decreased their price objective on Pinterest from $36.00 to $35.00 and set an overweight rating for the company in a research report on Wednesday, September 20th. Royal Bank of Canada restated a sector perform rating and set a $30.00 price objective on shares of Pinterest in a research report on Tuesday, August 22nd. Wolfe Research raised their price objective on Pinterest from $33.00 to $35.00 and gave the stock an outperform rating in a research report on Wednesday, August 2nd. Bank of America upgraded Pinterest from a neutral rating to a buy rating and raised their price objective for the stock from $32.00 to $37.00 in a research report on Tuesday. Finally, Stifel Nicolaus upgraded Pinterest from a hold rating to a buy rating and raised their price objective for the stock from $27.00 to $32.00 in a research report on Monday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $33.00.

Pinterest Stock Up 19.0 %

NYSE:PINS opened at $29.88 on Tuesday. The business’s 50-day moving average price is $26.92 and its 200 day moving average price is $26.12. The firm has a market cap of $20.02 billion, a P/E ratio of -69.49, a PEG ratio of 30.71 and a beta of 1.01. Pinterest has a 52-week low of $20.60 and a 52-week high of $30.86.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, August 1st. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. The firm had revenue of $708.03 million for the quarter, compared to analysts’ expectations of $698.28 million. Pinterest had a negative return on equity of 4.59% and a negative net margin of 10.14%. Sell-side analysts expect that Pinterest will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Pinterest news, CFO Todd R. Morgenfeld sold 182,115 shares of Pinterest stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $27.52, for a total value of $5,011,804.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $25.25, for a total transaction of $48,833.50. Following the sale, the director now directly owns 54,854 shares in the company, valued at $1,385,063.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Todd R. Morgenfeld sold 182,115 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $27.52, for a total value of $5,011,804.80. The disclosure for this sale can be found here. Insiders have sold a total of 436,792 shares of company stock valued at $11,866,175 in the last three months. Company insiders own 6.85% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently modified their holdings of the company. Compass Wealth Management LLC bought a new stake in shares of Pinterest during the second quarter valued at approximately $27,000. Cohanzick Management LLC acquired a new stake in Pinterest in the 1st quarter valued at $25,000. BOKF NA acquired a new stake in Pinterest in the 1st quarter valued at $28,000. Massmutual Trust Co. FSB ADV boosted its stake in Pinterest by 1,093.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,098 shares of the company’s stock valued at $30,000 after buying an additional 1,006 shares in the last quarter. Finally, Pinnacle Holdings LLC acquired a new stake in Pinterest in the 1st quarter valued at $35,000. 72.63% of the stock is currently owned by institutional investors.

About Pinterest

Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.