Pinterest, Inc. (NYSE:PINS) Receives $43.17 Consensus Target Price from Analysts

Shares of Pinterest, Inc. (NYSE:PINS) have received an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.17.

Several equities analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $41.00 target price (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, February 7th. Roth Capital set a $32.00 target price on Pinterest in a research report on Monday, February 3rd. Sanford C. Bernstein raised Pinterest from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Monness Crespi & Hardt upgraded Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, January 10th.

Insiders Place Their Bets

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the completion of the transaction, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock valued at $14,832,336 in the last three months. 7.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds have recently modified their holdings of the business. Whipplewood Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at about $28,000. GAMMA Investing LLC raised its stake in shares of Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Pinterest by 401.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,504 shares of the company’s stock worth $44,000 after acquiring an additional 1,204 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Pinterest by 51.5% during the 4th quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock worth $50,000 after purchasing an additional 590 shares during the period. Finally, Huntington National Bank boosted its position in shares of Pinterest by 484.1% during the 4th quarter. Huntington National Bank now owns 2,027 shares of the company’s stock worth $59,000 after purchasing an additional 1,680 shares during the period. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

Pinterest Stock Performance

Shares of PINS opened at $25.31 on Friday. The business’s 50-day moving average is $34.23 and its two-hundred day moving average is $32.38. The company has a market capitalization of $17.16 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.95 and a beta of 0.99. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $45.19.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Analysts forecast that Pinterest will post 0.6 EPS for the current year.

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.