Pinterest (NYSE:PINS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Pinterest (NYSE:PINS - Free Report) had its target price raised by Wells Fargo & Company from $41.00 to $42.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on PINS. Oppenheimer lifted their price objective on shares of Pinterest from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Piper Sandler dropped their price objective on shares of Pinterest from $41.00 to $34.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Bank of America dropped their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays dropped their price objective on shares of Pinterest from $42.00 to $38.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Raymond James Financial downgraded shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Pinterest presently has an average rating of "Moderate Buy" and an average price target of $40.52.

Pinterest Price Performance

NYSE:PINS traded down $0.15 during trading hours on Tuesday, hitting $35.71. The stock had a trading volume of 8,238,875 shares, compared to its average volume of 11,032,589. The company has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $31.81. Pinterest has a one year low of $23.68 and a one year high of $44.06. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.77 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.13% and a net margin of 50.41%. The company had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The business's revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Activity at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were 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 in the company, valued at $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the transaction, the chief financial officer owned 362,890 shares in the company, valued at $12,428,982.50. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,176,362 shares of company stock worth $39,223,352 over the last 90 days. 7.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Pinterest by 2.2% in the first quarter. Vanguard Group Inc. now owns 58,008,711 shares of the company's stock worth $1,798,270,000 after purchasing an additional 1,263,863 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Pinterest by 25.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,892,284 shares of the company's stock worth $988,662,000 after purchasing an additional 6,460,143 shares during the period. Ameriprise Financial Inc. grew its holdings in Pinterest by 13.7% in the first quarter. Ameriprise Financial Inc. now owns 15,498,454 shares of the company's stock worth $480,452,000 after purchasing an additional 1,862,654 shares during the period. Amundi grew its holdings in Pinterest by 618.9% in the first quarter. Amundi now owns 14,254,741 shares of the company's stock worth $441,897,000 after purchasing an additional 12,271,958 shares during the period. Finally, FMR LLC grew its holdings in Pinterest by 2.6% in the fourth quarter. FMR LLC now owns 12,599,356 shares of the company's stock worth $365,381,000 after purchasing an additional 316,633 shares during the period. Hedge funds and other institutional investors 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.