Pinterest (NYSE:PINS) Upgraded by Wolfe Research to “Outperform” Rating

Pinterest (NYSE:PINS) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the stock. Wolfe Research’s price target suggests a potential upside of 22.84% from the company’s previous close.

A number of other research firms have also recently weighed in on PINS. Bank of America lowered their price objective on Pinterest from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on shares of Pinterest from $47.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Stifel Nicolaus lowered their target price on shares of Pinterest from $50.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer raised their price target on shares of Pinterest from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Finally, TD Cowen dropped their price objective on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.26.

Pinterest Trading Up 1.0%

Shares of NYSE:PINS opened at $32.56 on Thursday. The company has a market capitalization of $22.08 billion, a PE ratio of 12.10, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest has a 12-month low of $23.68 and a 12-month high of $45.19. The business’s fifty day simple moving average is $28.72 and its 200-day simple moving average is $31.23.

Pinterest (NYSE:PINS) last released its quarterly 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). The firm had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Research analysts predict that Pinterest will post 0.6 EPS for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 408,332 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the completion of the transaction, the director now directly owns 6,274 shares of the company’s stock, valued at $208,045.84. This trade represents a 98.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares of the company’s stock, valued at $1,139,880.34. The trade was a 3.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 862,168 shares of company stock valued at $28,368,681. 7.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest during the 1st quarter worth about $25,000. Garde Capital Inc. purchased a new position in Pinterest during the first quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at $28,000. NBC Securities Inc. grew its stake in shares of Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after buying an additional 999 shares during the period. Finally, American National Bank & Trust purchased a new position in shares of Pinterest in the 1st quarter worth $32,000. Hedge funds and other 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.