Pinterest (NYSE:PINS) Price Target Raised to $43.00

Pinterest (NYSE:PINS - Get Free Report) had its price target increased by stock analysts at TD Cowen from $40.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price indicates a potential upside of 19.12% from the company's previous close.

A number of other research firms have also recently weighed in on PINS. Wedbush restated an "outperform" rating and issued a $40.00 price target (up previously from $38.00) on shares of Pinterest in a research note on Friday, May 9th. Wells Fargo & Company set a $42.00 price target on Pinterest and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays dropped their price target on Pinterest from $42.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Raymond James Financial cut Pinterest from an "overweight" rating to a "market perform" rating in a research report on Monday, April 7th. Finally, Bank of America lowered their price objective on Pinterest from $46.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, Pinterest currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.19.

Pinterest Trading Up 0.0%

Shares of Pinterest stock traded up $0.02 on Tuesday, reaching $36.10. 8,213,080 shares of the company were exchanged, compared to its average volume of 11,076,345. Pinterest has a one year low of $23.68 and a one year high of $42.20. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.78 and a beta of 0.94. The company has a 50-day moving average of $33.97 and a 200 day moving average of $32.30.

Pinterest (NYSE:PINS - Get Free Report) last announced 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 quarter in the prior year, the company earned $0.17 EPS. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts predict that Pinterest will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $34.25, for a total transaction of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares of the company's stock, valued at approximately $12,428,982.50. This trade represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of Pinterest 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,278,445 shares of company stock valued at $43,269,922. 7.06% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

A number of hedge funds have recently made changes to their positions in the company. Park Place Capital Corp acquired a new stake in shares of Pinterest during the second quarter valued at about $70,000. Janney Montgomery Scott LLC lifted its stake in shares of Pinterest by 15.8% in the second quarter. Janney Montgomery Scott LLC now owns 103,057 shares of the company's stock worth $3,696,000 after acquiring an additional 14,023 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Pinterest by 7.0% in the second quarter. Venture Visionary Partners LLC now owns 48,993 shares of the company's stock worth $1,757,000 after acquiring an additional 3,217 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Pinterest by 396.1% in the second quarter. V Square Quantitative Management LLC now owns 8,861 shares of the company's stock worth $318,000 after acquiring an additional 7,075 shares during the period. Finally, Scott & Selber Inc. acquired a new position in shares of Pinterest in the second quarter worth approximately $2,510,000. 88.81% of the stock is owned by institutional investors and hedge funds.

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.