TD Cowen Increases Pinterest (NYSE:PINS) Price Target to $43.00

Pinterest (NYSE:PINS) had its target price hoisted by analysts at TD Cowen from $40.00 to $43.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 19.21% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler dropped their price objective on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company set a $42.00 price target on Pinterest and gave the company an “overweight” rating in a research report on Tuesday, July 1st. KeyCorp upped their price target on Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Guggenheim decreased their price target on Pinterest from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Stifel Nicolaus decreased their price target on Pinterest from $50.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.97.

Pinterest Trading Down 1.3%

Shares of PINS stock opened at $36.07 on Tuesday. The firm has a market capitalization of $24.47 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The firm has a fifty day simple moving average of $33.80 and a two-hundred day simple moving average of $32.25. Pinterest has a 12 month low of $23.68 and a 12 month high of $42.20.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. Pinterest’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pinterest news, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $35.50, for a total value of $3,623,946.50. Following the completion of the transaction, the director owned 8,414 shares in the company, valued at approximately $298,697. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the transaction, the chief financial officer owned 362,890 shares of the company’s stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,278,445 shares of company stock worth $43,269,922. Insiders own 7.06% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors and hedge funds have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest in the 1st quarter worth about $25,000. Garde Capital Inc. bought a new stake in Pinterest in the 1st quarter worth about $26,000. NBC Securities Inc. increased its holdings in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after buying an additional 999 shares in the last quarter. American National Bank & Trust bought a new stake in Pinterest in the 1st quarter worth about $32,000. Finally, West Branch Capital LLC bought a new stake in Pinterest in the 2nd quarter worth about $36,000. 88.81% of the stock is currently 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.