Guggenheim upgraded shares of Pinterest (NYSE:PINS - Free Report) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have $40.00 price objective on the stock, up from their previous price objective of $39.00.
A number of other analysts have also issued reports on the company. Wedbush boosted their price target on Pinterest from $38.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Oppenheimer upped their target price on Pinterest from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Benchmark upgraded Pinterest from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Friday, February 7th. Royal Bank of Canada lifted their price objective on Pinterest from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Rosenblatt Securities increased their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.33.
View Our Latest Report on PINS
Pinterest Trading Down 2.3 %
Shares of PINS stock traded down $0.76 on Monday, reaching $31.49. 8,565,145 shares of the company's stock were exchanged, compared to its average volume of 10,065,459. The company's fifty day simple moving average is $34.66 and its 200 day simple moving average is $32.37. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market capitalization of $21.35 billion, a PE ratio of 11.70, a P/E/G ratio of 1.95 and a beta of 1.02.
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 analysts' consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, sell-side analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total transaction of $45,068.50. Following the sale, the director now directly owns 29,086 shares in the company, valued at $1,139,880.34. This trade represents a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total value of $3,180,906.28. Following the transaction, the director now owns 6,274 shares in the company, valued at $195,497.84. This trade represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,753 shares of company stock valued at $11,640,201 over the last ninety days. 7.11% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds 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 worth $737,533,000 after buying an additional 12,986,310 shares in the last quarter. Norges Bank acquired a new position in Pinterest in the 4th quarter valued at $358,205,000. Marshall Wace LLP lifted its holdings in 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 purchasing an additional 6,129,985 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Pinterest during the 3rd quarter worth $153,829,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company's stock.
About Pinterest
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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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