Citigroup Raises Pinterest (NYSE:PINS) Price Target to $51.00

Pinterest (NYSE:PINS) had its price target upped by Citigroup from $48.00 to $51.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on PINS. Benchmark reaffirmed a hold rating on shares of Pinterest in a research note on Wednesday. Evercore ISI lifted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research note on Friday, January 26th. Roth Mkm boosted their target price on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a research report on Wednesday. BMO Capital Markets raised their price target on shares of Pinterest from $45.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Pinterest has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Stock Performance

NYSE:PINS opened at $40.40 on Wednesday. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The company has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $34.48. The company has a market capitalization of $27.43 billion, a PE ratio of 192.39, a P/E/G ratio of 5.55 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Research analysts predict that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Pinterest news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. 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. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. GAMMA Investing LLC purchased a new position in shares of Pinterest in the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest during the 4th quarter valued at approximately $30,000. Washington Trust Advisors Inc. boosted its holdings in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the period. Quent Capital LLC grew its stake in Pinterest by 71.2% in the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock valued at $38,000 after buying an additional 460 shares in the last quarter. Finally, Clear Street Markets LLC bought a new stake in Pinterest during the 3rd quarter valued at $41,000. 88.81% of the stock is currently owned by institutional investors.

About Pinterest

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.