Loop Capital Boosts Pinterest (NYSE:PINS) Price Target to $49.00

Pinterest (NYSE:PINS) had its price objective raised by Loop Capital from $43.00 to $49.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

PINS has been the topic of several other reports. Roth Mkm boosted their price objective on shares of Pinterest from $38.00 to $40.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. BMO Capital Markets increased their price target on shares of Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, May 1st. KeyCorp dropped their target price on shares of Pinterest from $48.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Sanford C. Bernstein upped their price target on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a report on Wednesday, May 1st. Finally, Benchmark reissued a hold rating on shares of Pinterest in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of Moderate Buy and an average price target of $41.26.

Pinterest Price Performance

Shares of PINS opened at $42.62 on Monday. Pinterest has a 1-year low of $21.02 and a 1-year high of $42.80. The stock has a market cap of $29.12 billion, a PE ratio of 202.96, a price-to-earnings-growth ratio of 4.02 and a beta of 0.99. The firm has a fifty day moving average price of $35.16 and a 200 day moving average price of $34.91.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. As a group, equities analysts expect that Pinterest will post 0.43 EPS for the current fiscal year.

Insider Activity at Pinterest

In related news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the sale, the insider now directly owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $17,762,886.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, 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 sold 164,471 shares of company stock worth $5,773,431 in the last 90 days. 7.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its stake in Pinterest by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,071 shares of the company’s stock valued at $23,855,000 after purchasing an additional 28,261 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in Pinterest by 321.8% during the first quarter. Motley Fool Asset Management LLC now owns 52,396 shares of the company’s stock valued at $1,817,000 after buying an additional 39,974 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Pinterest by 8.3% during the first quarter. Bleakley Financial Group LLC now owns 10,781 shares of the company’s stock worth $374,000 after acquiring an additional 828 shares during the period. Avantax Advisory Services Inc. raised its position in Pinterest by 36.8% in the first quarter. Avantax Advisory Services Inc. now owns 12,604 shares of the company’s stock worth $437,000 after acquiring an additional 3,392 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Pinterest by 2.0% in the 1st quarter. US Bancorp DE now owns 26,602 shares of the company’s stock valued at $922,000 after acquiring an additional 521 shares during the last quarter. Institutional investors own 88.81% of the company’s stock.

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.