Citigroup Forecasts Strong Price Appreciation for Pinterest (NYSE:PINS) Stock

Pinterest (NYSE:PINS - Get Free Report) had its target price hoisted by research analysts at Citigroup from $41.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 25.11% from the company's previous close.

A number of other brokerages also recently issued reports on PINS. KeyCorp lifted their price target on Pinterest from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Piper Sandler dropped their price target on Pinterest from $41.00 to $34.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Benchmark decreased their price objective on Pinterest from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. UBS Group reduced their price target on shares of Pinterest from $50.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.52.

Pinterest Price Performance

Shares of PINS stock traded up $1.17 during trading on Tuesday, hitting $35.17. 3,305,439 shares of the stock traded hands, compared to its average volume of 10,896,492. The firm has a market capitalization of $23.85 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19. The firm's fifty day moving average price is $30.44 and its 200-day moving average price is $31.65.

Pinterest (NYSE:PINS - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The company had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. During the same quarter last year, the business posted $0.17 earnings per share. The company's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Benjamin Silbermann sold 102,083 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.27, for a total transaction of $3,192,135.41. Following the completion of the transaction, the director now owns 6,274 shares in the company, valued at approximately $196,187.98. This represents a 94.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wanjiku Juanita Walcott sold 12,253 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $32.24, for a total value of $395,036.72. Following the transaction, the insider now owns 228,510 shares of the company's stock, valued at approximately $7,367,162.40. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,147,499 shares of company stock valued at $37,960,957 in the last ninety days. Insiders own 7.11% of the company's stock.

Institutional Investors Weigh In On Pinterest

Several institutional investors have recently bought and sold shares of PINS. Swedbank AB raised its stake in shares of Pinterest by 344.0% in the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company's stock worth $181,024,000 after buying an additional 4,524,433 shares in the last quarter. Voya Investment Management LLC lifted its stake in Pinterest by 23.2% during the first quarter. Voya Investment Management LLC now owns 1,377,109 shares of the company's stock valued at $42,690,000 after purchasing an additional 259,485 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Pinterest by 6.3% during the 1st quarter. Howe & Rusling Inc. now owns 174,329 shares of the company's stock worth $5,404,000 after acquiring an additional 10,276 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Pinterest by 180.3% in the 1st quarter. First Hawaiian Bank now owns 22,226 shares of the company's stock valued at $689,000 after acquiring an additional 14,296 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Pinterest in the first quarter valued at $60,000. Institutional investors and hedge funds own 88.81% of the company's stock.

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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