Pinterest (NYSE:PINS) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has raised its price target on Pinterest (NYSE:PINS) from $38.00 to $40.00, suggesting a potential upside of 11.91% from the current price, while maintaining an "equal weight" rating on the stock.
• Multiple analysts have recently adjusted their target prices for Pinterest, with consensus estimates now at $42.10, indicating a strong overall positive outlook with 24 buy ratings versus five hold ratings.
• Pinterest's recent quarterly earnings showed a revenue increase to $998.23 million, but the company missed EPS estimates by 1 cent with earnings reported at $0.33.

Pinterest (NYSE:PINS - Free Report) had its price target boosted by Barclays from $38.00 to $40.00 in a research report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

PINS has been the subject of a number of other reports. UBS Group lifted their target price on Pinterest from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. KeyCorp lifted their target price on Pinterest from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Bank of America lifted their target price on Pinterest from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company set a $42.00 target price on Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, BMO Capital Markets decreased their target price on Pinterest from $46.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.40.

Pinterest Stock Performance

Shares of NYSE PINS traded down $3.98 during midday trading on Friday, reaching $35.19. 37,460,885 shares of the company's stock were exchanged, compared to its average volume of 9,693,246. Pinterest has a 52-week low of $23.68 and a 52-week high of $40.90. The stock has a market capitalization of $23.87 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. The business's fifty day moving average price is $36.01 and its two-hundred day moving average price is $33.13.

Pinterest (NYSE:PINS - Get Free Report) last announced its earnings results 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 business had revenue of $998.23 million for the quarter, compared to analysts' expectations of $973.42 million. Pinterest had a return on equity of 8.80% and a net margin of 49.31%. The firm's revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. Analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total transaction of $42,412.00. Following the completion of the sale, the director directly owned 31,750 shares of the company's stock, valued at $1,170,940. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Matthew Madrigal sold 20,000 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $38.58, for a total value of $771,600.00. Following the sale, the chief technology officer directly owned 428,823 shares of the company's stock, valued at approximately $16,543,991.34. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,502,611 shares of company stock worth $51,602,943. 7.06% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several large investors have recently added to or reduced their stakes in PINS. Price T Rowe Associates Inc. MD raised 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 valued at $737,533,000 after purchasing an additional 12,986,310 shares during the period. Amundi raised its stake in Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock valued at $441,897,000 after purchasing an additional 12,271,958 shares during the period. Marshall Wace LLP raised its stake in Pinterest by 134.1% during 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 during the period. Ameriprise Financial Inc. raised its stake in Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during the period. Finally, Swedbank AB raised its stake in Pinterest by 344.0% during the 1st quarter. Swedbank AB now owns 5,839,485 shares of the company's stock valued at $181,024,000 after purchasing an additional 4,524,433 shares during the period. 88.81% of the stock is 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.