Pinterest (NYSE:PINS) Price Target Raised to $50.00 at Royal Bank of Canada

Pinterest (NYSE:PINS) had its price target raised by Royal Bank of Canada from $48.00 to $50.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently commented on the stock. Wedbush boosted their price objective on shares of Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Rosenblatt Securities boosted their price target on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Piper Sandler restated a “neutral” rating and issued a $41.00 target price (up previously from $36.00) on shares of Pinterest in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of “Moderate Buy” and an average price target of $43.86.

Pinterest Trading Up 19.1 %

PINS stock opened at $40.02 on Friday. Pinterest has a 1-year low of $27.00 and a 1-year high of $45.19. The firm has a market cap of $27.04 billion, a PE ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06. The business’s 50-day moving average price is $31.23 and its two-hundred day moving average price is $31.57.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. On average, analysts forecast that Pinterest will post 0.59 earnings per share for the current year.

Insider Activity

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the transaction, the director now directly owns 32,536 shares of the company’s stock, valued at $967,295.28. This represents a 3.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Andrea Acosta sold 3,845 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the sale, the chief accounting officer now directly owns 158,468 shares of the company’s stock, valued at $4,893,491.84. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 over the last ninety days. 7.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of the business. Founders Financial Alliance LLC boosted its holdings in Pinterest by 5.9% in the 4th quarter. Founders Financial Alliance LLC now owns 10,056 shares of the company’s stock valued at $292,000 after purchasing an additional 560 shares during the period. Clare Market Investments LLC acquired a new stake in shares of Pinterest in the fourth quarter valued at approximately $252,000. Independent Advisor Alliance boosted its stake in shares of Pinterest by 26.3% in the fourth quarter. Independent Advisor Alliance now owns 10,916 shares of the company’s stock valued at $317,000 after buying an additional 2,274 shares during the period. Daiwa Securities Group Inc. grew its position in Pinterest by 2.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 65,496 shares of the company’s stock worth $1,900,000 after buying an additional 1,335 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pinterest by 167.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 331,899 shares of the company’s stock worth $9,625,000 after acquiring an additional 207,917 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.