Pinterest, Inc. (NYSE:PINS) Receives $42.60 Consensus Price Target from Analysts

Pinterest, Inc. (NYSE:PINS) has received a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.71.

A number of research analysts recently weighed in on PINS shares. Piper Sandler reduced their price objective on Pinterest from $52.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Pinterest from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Roth Mkm cut their price objective on shares of Pinterest from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price on shares of Pinterest from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, KeyCorp dropped their target price on shares of Pinterest from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st.

Pinterest Price Performance

NYSE:PINS opened at $29.10 on Monday. The firm’s 50-day moving average price is $41.47 and its 200-day moving average price is $38.40. The company has a market capitalization of $19.88 billion, a PE ratio of 138.58, a P/E/G ratio of 3.13 and a beta of 0.97. Pinterest has a 1-year low of $23.59 and a 1-year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The business had revenue of $853.68 million for the quarter, compared to analysts’ expectations of $848.75 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The business’s revenue was up 20.6% compared to the same quarter last year. Equities analysts anticipate that Pinterest will post 0.44 EPS for the current fiscal year.

Insider Activity at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the sale, the chief accounting officer now owns 186,906 shares in the company, valued at $8,410,770. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $45.00, for a total value of $115,380.00. Following the completion of the transaction, the chief accounting officer now directly owns 186,906 shares in the company, valued at $8,410,770. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total transaction of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,250 shares of company stock worth $2,191,304. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in Pinterest during the 4th quarter valued at approximately $27,000. Rakuten Securities Inc. bought a new stake in shares of Pinterest during the fourth quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its position in shares of Pinterest by 157.7% during the second quarter. Hexagon Capital Partners LLC now owns 750 shares of the company’s stock valued at $33,000 after buying an additional 459 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Pinterest in the second quarter worth $35,000. Finally, Quent Capital LLC boosted its position in shares of Pinterest by 71.2% during the first quarter. Quent Capital LLC now owns 1,106 shares of the company’s stock worth $38,000 after acquiring an additional 460 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.