Pinterest (NYSE:PINS) PT Raised to $49.00 at Loop Capital

Pinterest (NYSE:PINS) had its target price raised by analysts at Loop Capital from $43.00 to $49.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 16.89% from the company’s previous close.

PINS has been the subject of several other reports. Wedbush increased their target price on Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. BMO Capital Markets raised their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Roth Mkm lifted their target price on shares of Pinterest from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler raised their price target on shares of Pinterest from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company upped their price objective on shares of Pinterest from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.26.

Pinterest Price Performance

Shares of PINS opened at $41.92 on Monday. The firm has a market cap of $28.64 billion, a P/E ratio of 199.63, a P/E/G ratio of 4.02 and a beta of 0.99. Pinterest has a 1 year low of $20.88 and a 1 year high of $42.09. The stock has a 50 day simple moving average of $35.03 and a two-hundred day simple moving average of $34.79.

Pinterest (NYSE:PINS) last issued 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. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. On average, equities analysts anticipate that Pinterest will post 0.43 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The stock was 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 in the company, valued at $13,521,174.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 sale, 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 this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. 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 in the last ninety days. 7.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legacy Capital Group California Inc. boosted its holdings in shares of Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after acquiring an additional 267 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in Pinterest by 0.7% in the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock worth $1,816,000 after purchasing an additional 324 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Pinterest by 46.0% in 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 last quarter. Creative Financial Designs Inc. ADV raised its stake in Pinterest by 0.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after buying an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after buying an additional 378 shares during the last quarter. 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.