Pinterest (NYSE:PINS) PT Raised to $50.00

Pinterest (NYSE:PINS) had its price target boosted by investment analysts at The Goldman Sachs Group from $44.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 16.96% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital lifted their price target on shares of Pinterest from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Citigroup lifted their price target on shares of Pinterest from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $48.00 target price (up previously from $45.00) on shares of Pinterest in a report on Wednesday, May 1st. Wedbush boosted their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their target price on shares of Pinterest from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.04.

Pinterest Trading Down 1.4 %

NYSE:PINS opened at $42.75 on Tuesday. The stock has a market capitalization of $29.21 billion, a PE ratio of 203.58, a price-to-earnings-growth ratio of 4.24 and a beta of 0.97. The firm’s 50 day moving average is $42.69 and its 200 day moving average is $38.24. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The company had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Research analysts predict that Pinterest will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred 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 owns 31,646 shares in the company, valued at $1,055,077.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Donnelly Julia Brau sold 30,280 shares of Pinterest stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the transaction, the chief financial officer now owns 362,822 shares in the company, valued at approximately $16,102,040.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction 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 transaction, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,184 shares of company stock valued at $2,255,783. Corporate insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Pinterest in the 4th quarter worth $241,229,000. Wellington Management Group LLP raised its position in shares of Pinterest by 1,188.9% during the 4th quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after buying an additional 5,524,796 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after buying an additional 3,134,776 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock valued at $371,764,000 after buying an additional 2,548,925 shares in the last quarter. Finally, Contour Asset Management LLC raised its position in shares of Pinterest by 79.5% during the 4th quarter. Contour Asset Management LLC now owns 4,569,168 shares of the company’s stock valued at $169,242,000 after buying an additional 2,023,500 shares in the last quarter. Hedge funds and other 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.