Stifel Nicolaus Raises Pinterest (NYSE:PINS) Price Target to $47.00

Key Points

• Stifel Nicolaus raised Pinterest's price target from $46.00 to $47.00, indicating a potential upside of 31.07% from its current price.
• Other analysts have also increased their ratings and price targets for Pinterest, with a consensus target now at $42.14 and a rating of "Moderate Buy."
• Insider trading activity has seen significant sales by directors, with over 1.5 million shares sold in the last three months, signaling a decrease in their ownership stakes.

Pinterest (NYSE:PINS - Get Free Report) had its target price upped by investment analysts at Stifel Nicolaus from $46.00 to $47.00 in a research note issued on Friday, Marketbeat.com reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 35.21% from the stock's current price.

PINS has been the topic of several other research reports. Susquehanna reaffirmed a "positive" rating and set a $42.00 target price on shares of Pinterest in a research note on Friday. JPMorgan Chase & Co. upgraded Pinterest from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a report on Tuesday, June 3rd. Bank of America boosted their target price on Pinterest from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Friday. TD Cowen boosted their target price on Pinterest from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Finally, Citigroup restated a "buy" rating and issued a $44.00 target price (up from $41.00) on shares of Pinterest in a report on Tuesday, June 24th. Five analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Pinterest Trading Up 1.7%

PINS stock traded up $0.57 during mid-day trading on Friday, reaching $34.76. 12,888,082 shares of the stock traded hands, compared to its average volume of 11,970,946. Pinterest has a 52-week low of $23.68 and a 52-week high of $40.90. The company has a market cap of $23.58 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.76 and a beta of 0.78. The stock's fifty day moving average is $36.06 and its 200-day moving average is $33.14.

Pinterest (NYSE:PINS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $998.23 million for the quarter, compared to analysts' expectations of $973.42 million. During the same period in the prior year, the company posted $0.29 earnings per share. Pinterest's quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts expect that Pinterest will post 0.6 earnings per share for the current year.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 11,510 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $35.68, for a total value of $410,676.80. Following the sale, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $36.88, for a total value of $42,412.00. Following the sale, the director owned 31,750 shares in the company, valued at $1,170,940. The trade was a 3.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,502,611 shares of company stock valued at $51,602,943. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC grew its holdings in shares of Pinterest by 282.7% during the second quarter. Golden State Wealth Management LLC now owns 685 shares of the company's stock worth $25,000 after purchasing an additional 506 shares during the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in Pinterest in the first quarter valued at about $25,000. Garde Capital Inc. bought a new position in Pinterest in the first quarter valued at about $26,000. NBC Securities Inc. boosted its holdings in Pinterest by 99,900.0% in the first quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. Finally, West Branch Capital LLC bought a new position in Pinterest in the second quarter valued at 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.