Brokerages Set Pinterest, Inc. (NYSE:PINS) Price Target at $37.97

Pinterest, Inc. (NYSE:PINS) has received an average recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $37.68.

Several analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Pinterest in a research note on Tuesday, January 9th. They set an “outperform” rating and a $45.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price target on shares of Pinterest in a research report on Tuesday, March 26th. Susquehanna increased their price target on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on shares of Pinterest from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $45.00 price target on shares of Pinterest in a research report on Friday, February 9th.

Pinterest Price Performance

Shares of Pinterest stock opened at $32.85 on Friday. The business has a 50-day moving average of $34.68 and a 200-day moving average of $34.16. The company has a market capitalization of $22.30 billion, a PE ratio of -547.50, a P/E/G ratio of 4.49 and a beta of 0.99. Pinterest has a 1-year low of $20.60 and a 1-year high of $41.60.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. On average, equities analysts expect that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at $17,762,886.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gokul Rajaram sold 1,934 shares of Pinterest 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 owns 31,646 shares in the company, valued at approximately $1,055,077.64. The disclosure for this sale can be found here. Insiders have sold 184,471 shares of company stock worth $6,525,231 over the last quarter. 6.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Pinterest in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new position in Pinterest in the 4th quarter worth approximately $30,000. Washington Trust Advisors Inc. boosted its stake in Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Pinterest during the 4th quarter valued at $43,000. Finally, Blue Trust Inc. boosted its stake in shares of Pinterest by 87.7% during the 4th quarter. Blue Trust Inc. now owns 1,192 shares of the company’s stock valued at $44,000 after buying an additional 557 shares during the period. Institutional investors and hedge funds 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.