Pinterest (NYSE:PINS) Price Target Raised to $50.00

Pinterest (NYSE:PINS) had its price objective hoisted by analysts at Royal Bank of Canada from $48.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.95% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Oppenheimer boosted their target price on shares of Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities upped their target price on Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.66.

Pinterest Price Performance

NYSE:PINS traded up $6.43 during mid-day trading on Friday, reaching $40.02. The stock had a trading volume of 44,233,423 shares, compared to its average volume of 12,035,941. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a 50-day simple moving average of $31.23 and a two-hundred day simple moving average of $31.57. The stock has a market capitalization of $27.04 billion, a PE ratio of 132.96, a P/E/G ratio of 1.68 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. Equities analysts expect that Pinterest will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,150 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total transaction of $34,994.50. Following the completion of the transaction, the director now owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock worth $589,131 in the last three months. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Pinterest in the fourth quarter worth $28,000. GAMMA Investing LLC grew its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Pinterest in the 3rd quarter worth approximately $37,000. Crewe Advisors LLC raised its holdings in Pinterest by 91.1% during the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. 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.