Pinterest (NYSE:PINS) Price Target Increased to $44.00 by Analysts at JPMorgan Chase & Co.

Pinterest (NYSE:PINS) had its price objective lifted by JPMorgan Chase & Co. from $38.00 to $44.00 in a report published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research analysts have also commented on PINS. Stifel Nicolaus lifted their price target on shares of Pinterest from $42.00 to $46.00 and gave the company a buy rating in a report on Wednesday. Piper Sandler increased their price target on Pinterest from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday. Evercore ISI boosted their price objective on Pinterest from $45.00 to $50.00 and gave the company an outperform rating in a research report on Friday, January 26th. Benchmark restated a hold rating on shares of Pinterest in a research note on Wednesday. Finally, Argus upgraded Pinterest from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $40.82.

Pinterest Stock Up 20.8 %

Shares of Pinterest stock opened at $40.40 on Wednesday. The business has a 50-day moving average price of $34.60 and a 200 day moving average price of $34.40. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The firm has a market cap of $27.43 billion, a P/E ratio of 192.39, a P/E/G ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 6.08% and a net margin of 4.64%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, equities research analysts anticipate that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the sale, the director now directly owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pinterest news, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the transaction, the director now owns 54,215 shares of the company’s stock, valued at $1,986,979.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction on Monday, April 15th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 over the last three months. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Pinterest by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 56,348,952 shares of the company’s stock valued at $2,087,165,000 after purchasing an additional 1,439,595 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock valued at $300,639,000 after purchasing an additional 3,390,924 shares during the last quarter. Franklin Resources Inc. increased its position in Pinterest by 34.0% in the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after buying an additional 2,548,925 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock worth $344,685,000 after purchasing an additional 1,043,173 shares during the period. Finally, Capital World Investors raised its stake in shares of Pinterest by 0.7% in the fourth quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after purchasing an additional 64,270 shares in the last quarter. 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.