Pinterest (NYSE:PINS) Given New $50.00 Price Target at Citigroup

Key Points

• Citigroup has increased its price target for Pinterest (NYSE:PINS) from $44.00 to $50.00, indicating a potential upside of 42.09% from its previous close.
• Recent trading saw Pinterest shares falling 10.2%, closing at $35.19, with significant trading volume exceeding its average.
• Multiple analysts have upgraded their ratings for Pinterest, with twenty-four giving the stock a "buy" rating, contributing to a consensus rating of "Moderate Buy."

Pinterest (NYSE:PINS - Get Free Report) had its price target raised by equities research analysts at Citigroup from $44.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 42.09% from the company's previous close.

PINS has been the topic of a number of other research reports. Morgan Stanley upgraded Pinterest from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $37.00 to $45.00 in a report on Monday, July 21st. Barclays upped their price target on Pinterest from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday. Stifel Nicolaus upped their price target on Pinterest from $46.00 to $47.00 and gave the stock a "buy" rating in a report on Friday. Benchmark upped their target price on Pinterest from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Monness Crespi & Hardt upped their target price on Pinterest from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Pinterest Stock Down 10.2%

Shares of PINS traded down $3.98 on Friday, reaching $35.19. The stock had a trading volume of 37,460,885 shares, compared to its average volume of 11,928,382. The firm has a market capitalization of $23.87 billion, a PE ratio of 12.84, a PEG ratio of 1.96 and a beta of 0.78. The firm has a 50-day moving average of $35.93 and a 200 day moving average of $33.10. Pinterest has a twelve month low of $23.68 and a twelve month high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.33 earnings per share 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 analyst estimates of $973.42 million. Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business's revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. On average, sell-side analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Benjamin Silbermann sold 408,332 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $33.16, for a total transaction of $13,540,289.12. Following the transaction, the director owned 6,274 shares of the company's stock, valued at $208,045.84. This represents a 98.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 1,502,611 shares of company stock worth $51,602,943. Corporate insiders own 7.06% of the company's stock.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently made changes to their positions in PINS. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Amundi increased its holdings in shares of Pinterest by 618.9% during the 1st quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after buying an additional 12,271,958 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company's stock worth $310,352,000 after buying an additional 6,129,985 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% during the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company's stock worth $395,441,000 after buying an additional 4,527,902 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of Pinterest by 344.0% during 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 during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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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