Pinterest (NYSE:PINS) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Pinterest (NYSE:PINS) in a research report report published on Thursday morning, Benzinga reports. They currently have a $52.00 price target on the stock, up from their prior price target of $50.00.

A number of other research analysts have also recently commented on the company. Rosenblatt Securities reaffirmed a buy rating and set a $48.00 price target (up previously from $45.00) on shares of Pinterest in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price 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. Susquehanna boosted their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a positive rating in a research report on Friday, February 9th. Wedbush raised their price objective on shares of Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Finally, Citigroup lifted their price objective on shares of Pinterest from $48.00 to $51.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $41.34.

Pinterest Stock Performance

NYSE PINS opened at $41.44 on Thursday. The company has a market capitalization of $28.31 billion, a PE ratio of 197.34, a price-to-earnings-growth ratio of 4.13 and a beta of 0.99. Pinterest has a 52-week low of $23.35 and a 52-week high of $43.12. The company has a 50-day simple moving average of $36.78 and a 200 day simple moving average of $36.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The company had revenue of $739.98 million during the quarter, compared to analyst estimates of $699.96 million. As a group, analysts forecast that Pinterest will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Donnelly Julia Brau sold 65,972 shares of the 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 transaction, the chief financial officer now directly owns 392,829 shares in the company, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 500,504 shares of the company’s stock, valued at $17,762,886.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders sold a total of 166,405 shares of company stock valued at $5,855,142 over the last 90 days. Insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently modified their holdings of PINS. Cetera Advisors LLC bought a new stake in Pinterest in the first quarter valued at approximately $1,175,000. Cetera Investment Advisers raised its holdings in Pinterest by 103.4% during the 1st quarter. Cetera Investment Advisers now owns 63,535 shares of the company’s stock valued at $2,203,000 after buying an additional 32,305 shares during the last quarter. Swedbank AB purchased a new stake in Pinterest during the 1st quarter valued at $1,714,000. Virtu Financial LLC grew its holdings in Pinterest by 93.7% in the 1st quarter. Virtu Financial LLC now owns 11,099 shares of the company’s stock worth $385,000 after acquiring an additional 5,368 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in shares of Pinterest by 398.3% in the first quarter. Plato Investment Management Ltd now owns 8,655 shares of the company’s stock valued at $300,000 after acquiring an additional 6,918 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.