Analysts Set Pinterest, Inc. (NYSE:PINS) Target Price at $40.52

Shares of Pinterest, Inc. (NYSE:PINS - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirty brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $41.19.

A number of research firms have weighed in on PINS. Guggenheim decreased their price target on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. KeyCorp increased their target price on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday. Wolfe Research upgraded Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Thursday, May 15th. Morgan Stanley increased their target price on Pinterest from $28.00 to $37.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Citigroup reiterated a "buy" rating and set a $44.00 target price (up from $41.00) on shares of Pinterest in a research note on Tuesday, June 24th.

Insiders Place Their Bets

In related news, Director Jeremy S. Levine sold 6,274 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $34.11, for a total value of $214,006.14. Following the transaction, the director directly owned 1,158,833 shares of the company's stock, valued at approximately $39,527,793.63. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benjamin Silbermann sold 102,083 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $35.50, for a total value of $3,623,946.50. Following the completion of the transaction, the director directly owned 8,414 shares in the company, valued at $298,697. The trade was a 92.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,278,445 shares of company stock valued at $43,269,922. 7.06% of the stock is owned by insiders.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Pinterest during the 1st quarter worth approximately $25,000. Garde Capital Inc. acquired a new stake in Pinterest in the 1st quarter valued at $26,000. NBC Securities Inc. raised its position in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after purchasing an additional 999 shares during the last quarter. American National Bank & Trust bought a new position in Pinterest in the 1st quarter valued at $32,000. Finally, West Branch Capital LLC bought a new position in Pinterest in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 88.81% of the company's stock.

Pinterest Stock Performance

Pinterest stock traded up $0.03 during midday trading on Monday, reaching $36.11. The company's stock had a trading volume of 474,071 shares, compared to its average volume of 11,041,649. Pinterest has a fifty-two week low of $23.68 and a fifty-two week high of $42.20. The stock's 50 day simple moving average is $33.80 and its 200 day simple moving average is $32.25. The firm has a market capitalization of $24.49 billion, a PE ratio of 13.16, a P/E/G ratio of 1.80 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. Pinterest had a net margin of 50.41% and a return on equity of 8.13%. The business's revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. Equities analysts predict that Pinterest will post 0.6 earnings per share for the current year.

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.