Pinterest (NYSE:PINS) Price Target Raised to $48.00

Pinterest (NYSE:PINSFree Report) had its price objective increased by Royal Bank of Canada from $46.00 to $48.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Bank of America raised Pinterest from a neutral rating to a buy rating and lifted their price objective for the stock from $32.00 to $37.00 in a report on Tuesday, October 31st. KeyCorp raised their target price on shares of Pinterest from $37.00 to $48.00 and gave the stock an overweight rating in a research report on Monday, February 5th. Jefferies Financial Group raised Pinterest from a hold rating to a buy rating and boosted their price target for the company from $32.00 to $41.00 in a research report on Thursday, November 30th. Stifel Nicolaus increased their price objective on shares of Pinterest from $26.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Finally, Susquehanna raised their target price on Pinterest from $35.00 to $45.00 and gave the company a positive rating in a report on Friday. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $37.52.

Check Out Our Latest Research Report on Pinterest

Pinterest Stock Performance

Pinterest stock opened at $35.50 on Friday. Pinterest has a one year low of $20.60 and a one year high of $41.60. The business has a fifty day moving average of $37.15 and a two-hundred day moving average of $31.31. The company has a market cap of $23.94 billion, a P/E ratio of -600.33, a price-to-earnings-growth ratio of 3.78 and a beta of 1.02.

Insider Activity

In related news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total value of $73,395.30. Following the sale, the director now owns 39,382 shares of the company’s stock, valued at approximately $1,494,546.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $37.95, for a total value of $73,395.30. Following the sale, the director now directly owns 39,382 shares in the company, valued at approximately $1,494,546.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $32.28, for a total transaction of $368,314.80. Following the completion of the transaction, the insider now owns 216,326 shares of the company’s stock, valued at approximately $6,983,003.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,737 shares of company stock valued at $2,826,987. 6.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Vanguard Group Inc. raised its position in shares of Pinterest by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 50,128,803 shares of the company’s stock worth $1,233,670,000 after buying an additional 958,619 shares in the last quarter. BlackRock Inc. lifted its position in Pinterest by 1.6% in the second quarter. BlackRock Inc. now owns 34,476,228 shares of the company’s stock worth $942,580,000 after purchasing an additional 545,900 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Pinterest by 28.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,743,947 shares of the company’s stock valued at $702,039,000 after purchasing an additional 5,670,073 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Pinterest by 1.5% in the 2nd quarter. Macquarie Group Ltd. now owns 13,145,182 shares of the company’s stock worth $238,716,000 after buying an additional 191,507 shares in the last quarter. Finally, State Street Corp grew its holdings in Pinterest by 2.0% during the first quarter. State Street Corp now owns 12,143,900 shares of the company’s stock worth $298,861,000 after acquiring an additional 235,403 shares during the period. 72.63% of the stock is currently owned by institutional investors.

Pinterest Company Profile

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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