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Pinterest (NYSE:PINS) Price Target Raised to $42.00

Pinterest logo with Computer and Technology background

Pinterest (NYSE:PINS - Free Report) had its price target raised by Barclays from $36.00 to $42.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued research reports about the company. KeyCorp upped their target price on Pinterest from $37.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday. Wells Fargo & Company upped their target price on Pinterest from $39.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday. Royal Bank of Canada upped their target price on Pinterest from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday. Oppenheimer increased their price objective on Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on Pinterest from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.86.

Check Out Our Latest Stock Report on Pinterest

Pinterest Trading Up 0.0 %

Shares of NYSE PINS traded up $0.00 during midday trading on Friday, hitting $39.64. 14,901,071 shares of the company's stock were exchanged, compared to its average volume of 12,995,244. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.72 and a beta of 1.06. The business's fifty day moving average price is $31.61 and its two-hundred day moving average price is $31.46.

Pinterest (NYSE:PINS - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Equities analysts expect that Pinterest will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now directly owns 30,236 shares in the company, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares of the company's stock, valued at $7,610,105.22. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinterest

Several institutional investors and hedge funds have recently modified their holdings of PINS. Pier Capital LLC boosted its position in shares of Pinterest by 95.6% during the fourth quarter. Pier Capital LLC now owns 27,023 shares of the company's stock valued at $784,000 after buying an additional 13,208 shares during the last quarter. Prospect Financial Group LLC purchased a new stake in shares of Pinterest during the fourth quarter valued at $6,867,000. EntryPoint Capital LLC purchased a new stake in shares of Pinterest during the fourth quarter valued at $454,000. Zevenbergen Capital Investments LLC purchased a new stake in shares of Pinterest during the fourth quarter valued at $10,608,000. Finally, LPL Financial LLC boosted its position in shares of Pinterest by 3.6% during the fourth quarter. LPL Financial LLC now owns 438,427 shares of the company's stock valued at $12,714,000 after buying an additional 15,164 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors.

About Pinterest

(Get Free Report)

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.

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