Loop Capital Boosts Pinterest (NYSE:PINS) Price Target to $49.00

Pinterest (NYSE:PINS) had its price objective upped by equities research analysts at Loop Capital from $43.00 to $49.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 20.57% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Evercore ISI boosted their price target on Pinterest from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Wedbush increased their target price on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein lifted their price target on shares of Pinterest from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Pinterest has an average rating of “Moderate Buy” and an average target price of $41.26.

Pinterest Stock Performance

Shares of PINS traded up $0.23 during mid-day trading on Monday, reaching $40.64. 5,118,707 shares of the company were exchanged, compared to its average volume of 10,092,323. The business has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $34.58. Pinterest has a 52 week low of $20.88 and a 52 week high of $41.60. The stock has a market capitalization of $27.76 billion, a PE ratio of 194.06, a PEG ratio of 4.02 and a beta of 0.99.

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

Insider Activity

In related news, insider Sabrina Ellis sold 24,410 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now directly owns 392,829 shares in the company, valued at $13,521,174.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sabrina Ellis sold 24,410 shares of the firm’s stock in a transaction that occurred on 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 owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold a total of 164,471 shares of company stock valued at $5,773,431 over the last quarter. Company insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC increased its holdings in shares of Pinterest by 152.3% in the fourth quarter. ARK Investment Management LLC now owns 1,444,579 shares of the company’s stock worth $53,507,000 after purchasing an additional 872,016 shares during the period. Nordea Investment Management AB boosted its position in shares of Pinterest by 57.9% during the 4th quarter. Nordea Investment Management AB now owns 882,233 shares of the company’s stock valued at $32,766,000 after acquiring an additional 323,547 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Pinterest by 3,402.0% during the fourth quarter. International Assets Investment Management LLC now owns 80,266 shares of the company’s stock worth $2,973,000 after purchasing an additional 77,974 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Pinterest by 53.1% in the third quarter. Acadian Asset Management LLC now owns 3,138,973 shares of the company’s stock worth $84,826,000 after purchasing an additional 1,089,299 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Pinterest by 55.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,870 shares of the company’s stock worth $6,477,000 after purchasing an additional 62,117 shares during the last quarter. 88.81% of the stock is currently owned by hedge funds and other institutional investors.

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.