KeyCorp Forecasts Strong Price Appreciation for Pinterest (NYSE:PINS) Stock

Pinterest (NYSE:PINS - Get Free Report) had its price objective boosted by stock analysts at KeyCorp from $37.00 to $40.00 in a research report issued on Friday, Marketbeat.com reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 36.85% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Pinterest from $42.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald lifted their target price on shares of Pinterest from $36.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Stifel Nicolaus decreased their target price on shares of Pinterest from $50.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Pinterest from $47.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, The Goldman Sachs Group decreased their price objective on shares of Pinterest from $47.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Eight analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.27.

Pinterest Trading Up 4.9%

NYSE PINS traded up $1.37 on Friday, hitting $29.23. 44,136,643 shares of the company's stock traded hands, compared to its average volume of 10,591,271. The firm has a market capitalization of $19.82 billion, a PE ratio of 10.87, a P/E/G ratio of 1.95 and a beta of 0.83. Pinterest has a 1-year low of $23.68 and a 1-year high of $45.19. The firm's 50-day moving average price is $28.84 and its two-hundred day moving average price is $31.20.

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). The business had revenue of $854.99 million during the quarter, compared to analysts' expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. Pinterest's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. On average, research analysts anticipate that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares in the company, valued at approximately $8,350,831.35. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy S. Levine sold 50,535 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.98, for a total transaction of $1,717,179.30. Following the completion of the transaction, the director now owns 1,156,693 shares in the company, valued at $39,304,428.14. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 453,836 shares of company stock worth $14,828,392 over the last ninety days. Corporate insiders own 7.06% of the company's stock.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Pinterest during the 1st quarter worth $25,000. Garde Capital Inc. acquired a new position in Pinterest in the first quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Pinterest by 99,900.0% in the 1st 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 period. Institutional investors and hedge funds 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.