UBS Group Boosts Pinterest (NYSE:PINS) Price Target to $50.00

Pinterest (NYSE:PINS) had its price target lifted by analysts at UBS Group from $44.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 38.51% from the stock’s current price.

PINS has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Pinterest from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $40.00 in a report on Tuesday, June 3rd. Oppenheimer boosted their price target on shares of Pinterest from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Wells Fargo & Company set a $42.00 price target on shares of Pinterest and gave the company an “overweight” rating in a report on Tuesday, July 1st. KeyCorp boosted their price target on shares of Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Raymond James Financial lowered shares of Pinterest from an “overweight” rating to a “market perform” rating in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.19.

Pinterest Price Performance

Shares of PINS opened at $36.10 on Wednesday. Pinterest has a 1-year low of $23.68 and a 1-year high of $42.20. The company has a 50-day moving average of $33.97 and a 200 day moving average of $32.30. The firm has a market capitalization of $24.48 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.78 and a beta of 0.94.

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

Insider Buying and Selling

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at approximately $208,045.84. This represents a 98.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer directly owned 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,278,445 shares of company stock worth $43,269,922 in the last 90 days. 7.06% of the stock is currently owned by company insiders.

Institutional Trading of Pinterest

Several large investors have recently made changes to their positions in the business. Park Place Capital Corp purchased a new stake in shares of Pinterest in the 2nd quarter valued at $70,000. Janney Montgomery Scott LLC boosted its holdings in shares of Pinterest by 15.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 103,057 shares of the company’s stock valued at $3,696,000 after acquiring an additional 14,023 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Pinterest by 7.0% in the 2nd quarter. Venture Visionary Partners LLC now owns 48,993 shares of the company’s stock valued at $1,757,000 after acquiring an additional 3,217 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Pinterest by 396.1% in the 2nd quarter. V Square Quantitative Management LLC now owns 8,861 shares of the company’s stock valued at $318,000 after acquiring an additional 7,075 shares during the last quarter. Finally, Scott & Selber Inc. purchased a new stake in shares of Pinterest in the 2nd quarter valued at $2,510,000. 88.81% of the stock is owned by hedge funds and other 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.