Bank of America Raises Pinterest (NYSE:PINS) Price Target to $44.00

Key Points

• Bank of America has raised its price target for Pinterest from $41.00 to $44.00, indicating a potential upside of 12.19% from the current price, and maintains a "buy" rating on the stock.
• Other analysts have also increased their price targets, with Monness Crespi & Hardt setting a target of $46.00, while Barclays lowered theirs to $38.00, reflecting mixed outlooks within the analyst community.
• Pinterest reported $0.33 earnings per share for the last quarter, missing estimates slightly, but its revenue increased by 16.9% year-over-year.

Pinterest (NYSE:PINS - Get Free Report) had its target price hoisted by Bank of America from $41.00 to $44.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 12.19% from the company's current price.

Other research analysts have also issued research reports about the company. Monness Crespi & Hardt upped their price target on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Friday. Wedbush upped their target price on Pinterest from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Barclays cut their price target on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. KeyCorp upped their price objective on shares of Pinterest from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group cut their target price on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.03.

Pinterest Stock Up 0.3%

NYSE:PINS opened at $39.22 on Friday. The firm has a market capitalization of $26.60 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a fifty day moving average of $35.93 and a 200 day moving average of $33.10. Pinterest has a 52 week low of $23.68 and a 52 week high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The firm had revenue of $998.23 million during the quarter, compared to analysts' expectations of $973.42 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. Pinterest's revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of Pinterest stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total value of $13,540,289.12. Following the completion of the sale, the director owned 6,274 shares of the company's stock, valued at approximately $208,045.84. This trade represents a 98.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 1,502,611 shares of company stock valued at $51,602,943. Corporate insiders own 7.06% of the company's stock.

Institutional Investors Weigh In On Pinterest

Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC boosted its holdings in shares of Pinterest by 10.1% during the 2nd quarter. Penserra Capital Management LLC now owns 3,259 shares of the company's stock valued at $115,000 after acquiring an additional 300 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Pinterest by 16.5% during the second quarter. TD Private Client Wealth LLC now owns 2,623 shares of the company's stock valued at $94,000 after purchasing an additional 371 shares during the period. Riverpark Capital Management LLC boosted its holdings in Pinterest by 1.2% in the first quarter. Riverpark Capital Management LLC now owns 31,825 shares of the company's stock worth $987,000 after purchasing an additional 377 shares during the last quarter. Whittier Trust Co. grew its position in Pinterest by 22.3% in the 2nd quarter. Whittier Trust Co. now owns 2,088 shares of the company's stock worth $75,000 after purchasing an additional 381 shares during the period. Finally, Prospera Financial Services Inc grew its position in Pinterest by 1.0% in the 2nd quarter. Prospera Financial Services Inc now owns 40,444 shares of the company's stock worth $1,450,000 after purchasing an additional 399 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Pinterest Company Profile

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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