Pinterest (NYSE:PINS) Price Target Raised to $48.00

Pinterest (NYSE:PINS - Get Free Report) had its price objective increased by Benchmark from $45.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's price objective would suggest a potential upside of 26.64% from the stock's previous close.

A number of other brokerages also recently issued reports on PINS. Monness Crespi & Hardt cut their price target on shares of Pinterest from $50.00 to $40.00 and set a "buy" rating for the company in a report on Friday, May 9th. Barclays cut their price target 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. Guggenheim cut their price target on Pinterest from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Oppenheimer upped their price objective on shares of Pinterest from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Finally, Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest has an average rating of "Moderate Buy" and a consensus price target of $41.81.

Pinterest Stock Up 0.3%

Shares of NYSE PINS traded up $0.11 during midday trading on Thursday, reaching $37.90. 2,275,202 shares of the company's stock traded hands, compared to its average volume of 11,784,619. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.88 and a beta of 0.94. The stock's 50 day simple moving average is $34.44 and its 200-day simple moving average is $32.52. Pinterest has a one year low of $23.68 and a one year high of $40.90.

Pinterest (NYSE:PINS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Pinterest had a return on equity of 8.13% and a net margin of 50.41%. The business had revenue of $854.99 million during the quarter, compared to analyst estimates of $848.49 million. During the same quarter last year, the company posted $0.17 EPS. Pinterest's quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,150 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $36.88, for a total transaction of $42,412.00. Following the completion of the sale, the director owned 31,750 shares of the company's stock, valued at approximately $1,170,940. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $35.68, for a total value of $410,676.80. Following the completion of the transaction, the insider directly owned 390,230 shares in the company, valued at $13,923,406.40. The trade was a 2.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,400,528 shares of company stock valued at $47,728,893. 7.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Pinterest during the first quarter worth $25,000. Garde Capital Inc. bought a new stake in shares of Pinterest in the first quarter valued at approximately $26,000. NBC Securities Inc. lifted its stake in Pinterest by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company's stock worth $31,000 after purchasing an additional 999 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Pinterest during the 1st quarter valued at $32,000. Finally, West Branch Capital LLC purchased a new stake in shares of Pinterest in the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.

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