Pinterest’s (PINS) “Neutral” Rating Reaffirmed at Piper Sandler

Pinterest (NYSE:PINS)‘s stock had its “neutral” rating reissued by stock analysts at Piper Sandler in a research report issued on Friday,Benzinga reports. They currently have a $41.00 target price on the stock, up from their previous target price of $36.00. Piper Sandler’s price objective suggests a potential upside of 2.88% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PINS. Raymond James lowered their target price on shares of Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. TD Cowen initiated coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price target on the stock. Morgan Stanley boosted their target price on Pinterest from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Sanford C. Bernstein upgraded Pinterest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $47.00 in a research report on Friday. Finally, Oppenheimer decreased their price objective on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.89.

Pinterest Trading Up 18.6 %

Shares of Pinterest stock opened at $39.85 on Friday. The firm has a market capitalization of $26.93 billion, a P/E ratio of 132.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The business’s fifty day simple moving average is $31.17 and its 200 day simple moving average is $31.55. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19.

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

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total value of $34,189.50. Following the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,157 shares of company stock valued at $589,131 in the last ninety days. 7.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pinterest

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in Pinterest by 1.2% in the 3rd quarter. State Street Corp now owns 12,773,652 shares of the company’s stock valued at $413,483,000 after purchasing an additional 156,748 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pinterest by 0.8% in the third quarter. Geode Capital Management LLC now owns 9,466,585 shares of the company’s stock worth $305,710,000 after acquiring an additional 76,920 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Pinterest by 51.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,812,117 shares of the company’s stock worth $285,248,000 after acquiring an additional 2,996,750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Pinterest by 8.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,944,489 shares of the company’s stock valued at $192,423,000 after purchasing an additional 460,708 shares during the last quarter. Finally, Ninety One UK Ltd lifted its position in shares of Pinterest by 5.4% during the 4th quarter. Ninety One UK Ltd now owns 5,471,613 shares of the company’s stock worth $158,677,000 after purchasing an additional 278,362 shares during the last quarter. 88.81% of the stock is currently 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.