Pinterest (NYSE:PINS) Price Target Raised to $46.00

Pinterest (NYSE:PINS) had its price objective boosted by equities research analysts at KeyCorp from $37.00 to $46.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 15.78% from the company’s current price.

PINS has been the topic of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of Pinterest in a research note on Tuesday, December 10th. Piper Sandler restated a “neutral” rating and issued a $41.00 target price (up from $36.00) on shares of Pinterest in a report on Friday. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Raymond James cut their price objective on Pinterest from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Rosenblatt Securities raised their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Pinterest Trading Up 18.3 %

Shares of NYSE PINS traded up $6.14 during midday trading on Friday, reaching $39.73. 27,502,480 shares of the company were exchanged, compared to its average volume of 11,276,909. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19. The stock has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $31.57. The stock has a market cap of $26.85 billion, a P/E ratio of 131.66, a PEG ratio of 1.68 and a beta of 1.06.

Pinterest (NYSE:PINS) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 8.37% and a net margin of 6.21%. As a group, analysts forecast that Pinterest will post 0.42 earnings per share for the current year.

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $30.98, for a total transaction of $35,627.00. Following the completion of the sale, the director now directly owns 31,386 shares of the company’s stock, valued at $972,338.28. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total transaction of $365,586.84. Following the completion of the transaction, the insider now directly owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Amundi grew its stake in Pinterest by 19.4% during the 4th quarter. Amundi now owns 1,982,783 shares of the company’s stock worth $61,209,000 after buying an additional 322,560 shares during the last quarter. Machina Capital S.A.S. boosted its holdings in Pinterest by 132.1% in the 4th quarter. Machina Capital S.A.S. now owns 32,905 shares of the company’s stock valued at $954,000 after purchasing an additional 18,729 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Pinterest in the 4th quarter valued at $4,965,000. Candriam S.C.A. boosted its stake in Pinterest by 20.5% in the fourth quarter. Candriam S.C.A. now owns 40,557 shares of the company’s stock valued at $1,176,000 after acquiring an additional 6,887 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of Pinterest by 24.4% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 132,315 shares of the company’s stock valued at $4,014,000 after buying an additional 25,929 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.