Pinterest (NYSE:PINS) Given New $35.00 Price Target at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) had its price objective raised by JPMorgan Chase & Co. from $30.00 to $35.00 in a research report sent to investors on Friday morning, Marketbeat reports. They currently have a neutral rating on the stock.

PINS has been the topic of several other reports. Cantor Fitzgerald lifted their price objective on shares of Pinterest from $36.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. KeyCorp upped their price target on Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James lowered Pinterest from an “overweight” rating to a “market perform” rating in a research report on Monday, April 7th. Finally, Roth Capital set a $32.00 target price on Pinterest in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $40.27.

Pinterest Stock Up 4.9%

NYSE:PINS opened at $29.23 on Friday. The stock has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $31.20. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. Pinterest has a 1-year low of $23.68 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Benjamin Silbermann sold 102,083 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total value of $3,192,135.41. Following the transaction, the director now directly owns 6,274 shares in the company, valued at approximately $196,187.98. This trade represents a 94.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the completion of the transaction, the director now owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 453,836 shares of company stock worth $14,828,392. Corporate insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of hedge funds have recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest during the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new position in Pinterest in the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Pinterest during the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its position in shares of Pinterest by 63.5% in the fourth 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. Finally, NBC Securities Inc. boosted its position in shares of Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after acquiring an additional 999 shares during the period. 88.81% of the stock is currently owned by 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.