Pinterest, Inc. (NYSE:PINS - Get Free Report) shares shot up 2.1% during mid-day trading on Friday . The company traded as high as $32.01 and last traded at $32.09. 1,179,625 shares traded hands during trading, a decline of 88% from the average session volume of 9,827,686 shares. The stock had previously closed at $31.42.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Pinterest from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a research note on Monday, January 13th. KeyCorp cut their price objective on Pinterest from $46.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus reiterated a "buy" rating and issued a $50.00 target price (up from $45.00) on shares of Pinterest in a research report on Friday, February 7th. Finally, Sanford C. Bernstein upgraded Pinterest from a "market perform" rating to an "outperform" rating and raised their price target for the company from $34.00 to $47.00 in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of "Moderate Buy" and an average price target of $43.33.
Check Out Our Latest Stock Report on PINS
Pinterest Price Performance
The firm has a market capitalization of $23.52 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock's 50-day moving average price is $34.46 and its 200 day moving average price is $32.31.
Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts forecast that Pinterest, Inc. will post 0.6 earnings per share for the current fiscal year.
Insider Activity
In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the transaction, the director now owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now owns 254,211 shares of the company's stock, valued at approximately $8,350,831.35. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,417 shares of company stock worth $7,803,946. 7.11% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Pinterest
Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company's stock valued at $737,533,000 after purchasing an additional 12,986,310 shares in the last quarter. Norges Bank acquired a new position in shares of Pinterest in the 4th quarter valued at $358,205,000. Marshall Wace LLP increased its position in shares of Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock valued at $310,352,000 after acquiring an additional 6,129,985 shares during the period. Point72 Asset Management L.P. purchased a new position in Pinterest in the 3rd quarter worth $153,829,000. Finally, Ameriprise Financial Inc. lifted its position in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after acquiring an additional 4,527,902 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.
Pinterest Company Profile
(
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.
Recommended Stories
Before you consider Pinterest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pinterest wasn't on the list.
While Pinterest currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
