Pinterest (NYSE:PINS) Price Target Raised to $45.00

Pinterest (NYSE:PINS - Free Report) had its price objective hoisted by KeyCorp from $40.00 to $45.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

PINS has been the topic of several other reports. Wolfe Research upgraded shares of Pinterest from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America reduced their price objective on shares of Pinterest from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Raymond James Financial lowered shares of Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. raised shares of Pinterest from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $35.00 to $40.00 in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $41.19.

Pinterest Stock Up 0.0%

Shares of Pinterest stock traded up $0.02 on Thursday, hitting $36.10. 8,213,080 shares of the company traded hands, compared to its average volume of 11,076,345. The company has a 50-day moving average price of $33.97 and a 200 day moving average price of $32.30. Pinterest has a 12-month low of $23.68 and a 12-month high of $42.20. The company has a market cap of $24.48 billion, a PE ratio of 13.17, a PEG ratio of 1.78 and a beta of 0.94.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $848.49 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company's revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In related news, Director Benjamin Silbermann sold 408,332 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $33.16, for a total value of $13,540,289.12. Following the sale, the director owned 6,274 shares of the company's stock, valued at $208,045.84. The trade was a 98.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Donnelly Julia Brau sold 29,606 shares of the company'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 completion of the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,278,445 shares of company stock valued at $43,269,922 in the last ninety days. 7.06% of the stock is owned by company insiders.

Institutional Trading of Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC bought a new stake in Pinterest during the first quarter worth about $25,000. Garde Capital Inc. bought a new stake in Pinterest during the first quarter worth about $26,000. NBC Securities Inc. grew its stake in Pinterest by 99,900.0% during the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after buying an additional 999 shares during the last quarter. American National Bank & Trust bought a new stake in Pinterest during the first quarter worth about $32,000. Finally, West Branch Capital LLC bought a new stake in Pinterest during the second quarter worth about $36,000. Institutional investors own 88.81% of the company's stock.

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.