Brokerages Set Pinterest, Inc. (NYSE:PINS) PT at $37.97

Shares of Pinterest, Inc. (NYSE:PINS) have earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $37.68.

Several research analysts have recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Pinterest in a report on Tuesday, January 9th. They issued an “outperform” rating and a $45.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 target price on shares of Pinterest in a research report on Friday, February 9th. Stifel Nicolaus increased their price objective on Pinterest from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Wedbush lifted their target price on shares of Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Evercore ISI increased their price target on shares of Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th.

Pinterest Price Performance

Shares of NYSE PINS opened at $33.97 on Friday. The business has a 50-day moving average of $34.56 and a two-hundred day moving average of $34.14. The company has a market capitalization of $23.06 billion, a price-to-earnings ratio of -566.07, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60.

Pinterest (NYSE:PINS) last issued its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, equities research analysts expect that Pinterest will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.08, for a total transaction of $701,600.00. Following the completion of the sale, the director now directly owns 34,215 shares in the company, valued at $1,200,262.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,471 shares of company stock worth $6,525,231. Insiders own 6.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PINS. National Bank of Canada FI lifted its holdings in shares of Pinterest by 1,059.5% during the 3rd quarter. National Bank of Canada FI now owns 85,723 shares of the company’s stock worth $2,318,000 after acquiring an additional 78,330 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Pinterest by 27.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 109,297 shares of the company’s stock valued at $2,954,000 after buying an additional 23,300 shares during the period. CWM LLC raised its position in shares of Pinterest by 3.3% in the 3rd quarter. CWM LLC now owns 64,990 shares of the company’s stock worth $1,757,000 after buying an additional 2,102 shares during the period. AE Wealth Management LLC grew its position in Pinterest by 28.3% during the third quarter. AE Wealth Management LLC now owns 12,085 shares of the company’s stock valued at $327,000 after acquiring an additional 2,662 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Pinterest during the third quarter worth about $327,000. Hedge funds and other institutional investors 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.