Rosenblatt Securities Reaffirms “Buy” Rating for Pinterest (NYSE:PINS)

Rosenblatt Securities restated their buy rating on shares of Pinterest (NYSE:PINS) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $48.00 price objective on the stock, up from their prior price objective of $45.00.

Several other research analysts have also recently weighed in on PINS. Wedbush boosted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. Piper Sandler reissued an overweight rating and set a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Roth Mkm lifted their price objective on Pinterest from $37.00 to $38.00 and gave the stock a neutral rating in a report on Friday, February 9th. KeyCorp lowered their target price on Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Pinterest from $34.00 to $38.00 and gave the company a neutral rating in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $40.82.

Pinterest Price Performance

PINS opened at $40.40 on Wednesday. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The stock has a 50-day moving average price of $34.79 and a 200-day moving average price of $34.48. The firm has a market cap 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 issued its earnings results on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate 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 return on equity of 5.93% and a net margin of 4.64%. As a group, sell-side analysts anticipate that Pinterest will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred 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 directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated 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 transaction, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. 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 quarter. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Several large investors have recently modified their holdings of PINS. ARK Investment Management LLC lifted its position in Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after buying an additional 872,016 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Pinterest by 57.9% in the fourth quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the period. International Assets Investment Management LLC raised its stake in shares of Pinterest by 3,402.0% in the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock valued at $2,973,000 after acquiring an additional 77,974 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Pinterest by 53.1% in the 3rd quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after acquiring an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Pinterest by 55.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the period. 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.