Wedbush Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS - Get Free Report) had its target price lifted by stock analysts at Wedbush from $38.00 to $46.00 in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target would indicate a potential upside of 16.04% from the stock's current price.

Several other research analysts have also recently weighed in on PINS. TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They issued a "buy" rating and a $38.00 price objective for the company. UBS Group dropped their target price on Pinterest from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on Pinterest from $39.00 to $47.00 and gave the company an "overweight" rating in a report on Friday. Guggenheim raised their target price on shares of Pinterest from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Sanford C. Bernstein raised Pinterest from a "market perform" rating to an "outperform" rating and increased their price target for the company from $34.00 to $47.00 in a research note on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.86.

Pinterest Price Performance

Shares of PINS stock traded up $0.00 during trading hours 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 52 week low of $27.00 and a 52 week high of $45.19. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The stock's 50-day moving average is $31.61 and its 200-day moving average is $31.46.

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

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares of the company's stock, valued at approximately $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 246,921 shares of the company's stock, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Pinterest by 1.2% during the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company's stock worth $413,483,000 after buying an additional 156,748 shares during the period. Geode Capital Management LLC lifted its position in Pinterest by 0.8% during the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company's stock worth $305,710,000 after acquiring an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of Pinterest by 51.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company's stock worth $285,248,000 after acquiring an additional 2,996,750 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pinterest by 8.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company's stock valued at $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in shares of Pinterest by 5.4% during the fourth quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company's stock worth $158,677,000 after purchasing an additional 278,362 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.