Pinterest, Inc. (NYSE:PINS) Receives $40.52 Average Target Price from Analysts

Pinterest, Inc. (NYSE:PINS) has received a consensus rating of “Moderate Buy” from the thirty analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $40.97.

Several research analysts have recently commented on the company. KeyCorp lifted their target price on Pinterest from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Guggenheim decreased their target price on Pinterest from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group decreased their target price on Pinterest from $47.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. upgraded Pinterest from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $40.00 in a research report on Tuesday, June 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $40.00 target price (up previously from $38.00) on shares of Pinterest in a research report on Friday, May 9th.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the transaction, the director owned 6,274 shares in the company, valued at $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the completion of the transaction, the chief financial officer owned 362,890 shares in the company, valued at $12,428,982.50. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock worth $43,269,922 over the last three months. 7.06% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several large investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC boosted its stake in shares of Pinterest by 16.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company’s stock worth $94,000 after acquiring an additional 371 shares in the last quarter. Riverpark Capital Management LLC boosted its stake in Pinterest by 1.2% during the 1st quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company’s stock valued at $987,000 after purchasing an additional 377 shares during the period. Smartleaf Asset Management LLC boosted its stake in Pinterest by 18.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $96,000 after purchasing an additional 476 shares during the period. Redwood Investment Management LLC boosted its stake in Pinterest by 3.2% during the 4th quarter. Redwood Investment Management LLC now owns 15,951 shares of the company’s stock valued at $463,000 after purchasing an additional 495 shares during the period. Finally, NorthRock Partners LLC boosted its stake in Pinterest by 4.7% during the 1st quarter. NorthRock Partners LLC now owns 11,246 shares of the company’s stock valued at $349,000 after purchasing an additional 502 shares during the period. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

Shares of NYSE:PINS opened at $36.07 on Monday. The company has a market cap of $24.47 billion, a P/E ratio of 13.16, a PEG ratio of 1.80 and a beta of 0.94. Pinterest has a one year low of $23.68 and a one year high of $42.20. The business’s 50-day simple moving average is $33.80 and its 200 day simple moving average is $32.25.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million for the quarter, compared to analysts’ expectations of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Pinterest’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that Pinterest will post 0.6 earnings per share for the current year.

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.