Pinterest (NYSE:PINS) Price Target Raised to $50.00 at Piper Sandler

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

Several other brokerages have also issued reports on PINS. BMO Capital Markets assumed coverage on Pinterest in a report on Tuesday, January 9th. They set an outperform rating and a $45.00 price target for the company. Stifel Nicolaus lifted their target price on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of Pinterest from $46.00 to $48.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Wedbush lifted their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Susquehanna increased their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research report on Friday, February 9th. Eight equities research 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, Pinterest currently has an average rating of Moderate Buy and a consensus price target of $40.82.

Pinterest Stock Performance

Shares of PINS opened at $40.40 on Wednesday. The company’s 50 day moving average price is $34.79 and its 200 day moving average price is $34.48. The company has a market capitalization of $27.43 billion, a PE ratio of 192.39, a PEG ratio of 5.55 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 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. The business had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. On average, equities analysts forecast that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the firm’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 sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.08, for a total value of $701,600.00. Following the completion of the sale, the director now owns 34,215 shares of the company’s stock, valued at approximately $1,200,262.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. GAMMA Investing LLC bought a new position in shares of Pinterest during the 4th quarter worth about $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the fourth quarter worth about $30,000. Washington Trust Advisors Inc. lifted its stake in Pinterest by 46.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Quent Capital LLC boosted its holdings in Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 460 shares in the last quarter. Finally, Clear Street Markets LLC bought a new stake in shares of Pinterest in the 3rd quarter valued at approximately $41,000. 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.