Pinterest (NYSE:PINS) Price Target Raised to $51.00 at Citigroup

Pinterest (NYSE:PINS) had its price target lifted by Citigroup from $48.00 to $51.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

PINS has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a research note on Wednesday. Rosenblatt Securities reissued a buy rating and issued a $48.00 price target (up previously from $45.00) on shares of Pinterest in a report on Wednesday. Argus raised Pinterest from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research note on Thursday, January 18th. BMO Capital Markets boosted their target price on Pinterest from $45.00 to $46.00 and gave the company an outperform rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Pinterest currently has a consensus rating of Moderate Buy and an average price target of $40.82.

Pinterest Stock Performance

PINS opened at $40.41 on Wednesday. The company has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $34.53. The firm has a market capitalization of $27.44 billion, a PE ratio of 192.44, a P/E/G ratio of 4.64 and a beta of 0.99. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Equities analysts forecast that Pinterest will post 0.43 EPS for the current year.

Insider Activity at Pinterest

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $33.34, for a total transaction of $64,479.56. Following the sale, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of the transaction, the insider now directly owns 500,504 shares of the company’s stock, valued at approximately $17,762,886.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,471 shares of company stock valued at $5,773,431. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake in shares of Pinterest by 26.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,566 shares of the company’s stock worth $124,000 after acquiring an additional 737 shares during the period. Essex LLC boosted its position in Pinterest by 3.6% during the first quarter. Essex LLC now owns 35,741 shares of the company’s stock worth $1,239,000 after purchasing an additional 1,237 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Pinterest by 66.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 4,199,415 shares of the company’s stock valued at $145,594,000 after purchasing an additional 1,678,756 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Pinterest by 301.4% in the first quarter. Daiwa Securities Group Inc. now owns 149,303 shares of the company’s stock valued at $5,176,000 after purchasing an additional 112,107 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Pinterest by 71.2% during the 1st quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 460 shares during the last quarter. 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.