Stifel Nicolaus Raises Pinterest (NYSE:PINS) Price Target to $46.00

Pinterest (NYSE:PINS) had its price target raised by Stifel Nicolaus from $42.00 to $46.00 in a report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities analysts also recently commented on PINS. Evercore ISI lifted their price objective on shares of Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a report on Friday, January 26th. Roth Mkm lifted their price target on shares of Pinterest from $37.00 to $38.00 and gave the company a neutral rating in a report on Friday, February 9th. Susquehanna increased their price objective on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a research note on Friday, February 9th. Royal Bank of Canada lifted their target price on Pinterest from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, February 9th. Finally, Piper Sandler reiterated an overweight rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Performance

Shares of PINS stock opened at $40.41 on Wednesday. The stock has a market capitalization of $27.44 billion, a price-to-earnings ratio of 192.43, a PEG ratio of 4.65 and a beta of 0.99. Pinterest has a one year low of $20.60 and a one year high of $41.60. The company’s 50-day simple moving average is $34.79 and its 200-day simple moving average is $34.53.

Pinterest (NYSE:PINS) last released 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 return on equity of 5.93% and a net margin of 4.64%. The company had revenue of $981.26 million for the quarter, compared to the consensus estimate of $988.62 million. As a group, research analysts forecast that Pinterest will post 0.37 EPS for the current year.

Insider Activity

In related news, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was 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 of the company’s stock, valued at $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Sabrina Ellis sold 24,410 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest 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 owns 392,829 shares in the company, valued at approximately $13,521,174.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,471 shares of company stock worth $5,773,431. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently modified their holdings of the stock. Legacy Capital Group California Inc. raised its holdings in Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock worth $598,000 after buying an additional 267 shares during the period. Venture Visionary Partners LLC raised its holdings in shares of Pinterest by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after acquiring an additional 324 shares during the period. Washington Trust Advisors Inc. lifted its position in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after purchasing an additional 348 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after purchasing an additional 378 shares in the last quarter. 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.