Pinterest (NYSE:PINS) PT Set at $42.00 by Wells Fargo & Company

Pinterest (NYSE:PINS) has been given a $42.00 target price by Wells Fargo & Company in a report issued on Tuesday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.38% from the company’s previous close.

Several other brokerages also recently weighed in on PINS. Citigroup reaffirmed a “buy” rating and set a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th. Guggenheim cut their target price on shares of Pinterest from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Raymond James Financial downgraded shares of Pinterest from an “overweight” rating to a “market perform” rating in a research note on Monday, April 7th. TD Cowen cut their target price on shares of Pinterest from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler cut their target price on shares of Pinterest from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Pinterest currently has a consensus rating of “Moderate Buy” and an average target price of $40.52.

Pinterest Stock Performance

Pinterest stock opened at $35.78 on Tuesday. The company’s 50 day simple moving average is $31.91 and its 200-day simple moving average is $31.84. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.94. Pinterest has a 1 year low of $23.68 and a 1 year high of $44.06.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $854.99 million during the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. Pinterest’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Equities analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity

In related news, CFO Donnelly Julia Brau sold 29,606 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the completion of the sale, the chief financial officer owned 362,890 shares in the company, valued at $12,428,982.50. This represents a 7.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Andrea Acosta sold 3,759 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $31.86, for a total transaction of $119,761.74. Following the sale, the chief accounting officer owned 171,373 shares of the company’s stock, valued at approximately $5,459,943.78. This represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,176,362 shares of company stock worth $39,645,976 over the last 90 days. 7.06% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Large investors have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest during the 1st quarter worth $25,000. Garde Capital Inc. purchased a new position in Pinterest during the 1st quarter worth $26,000. NBC Securities Inc. raised its position in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock worth $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust purchased a new position in Pinterest during the 1st quarter worth $32,000. Finally, Golden State Wealth Management LLC raised its position in Pinterest by 665.4% during the 1st quarter. Golden State Wealth Management LLC now owns 1,217 shares of the company’s stock worth $38,000 after buying an additional 1,058 shares during the last quarter. Institutional investors and hedge funds 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.