Piper Sandler Reiterates “Overweight” Rating for Pinterest (NYSE:PINS)

Piper Sandler reaffirmed their overweight rating on shares of Pinterest (NYSE:PINS) in a report published on Friday, Benzinga reports. Piper Sandler currently has a $45.00 price target on the stock.

Several other equities analysts have also issued reports on PINS. UBS Group decreased their price target on Pinterest from $57.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on Pinterest from $46.00 to $45.00 and set a buy rating for the company in a research note on Wednesday, July 31st. Raymond James lowered their price objective on shares of Pinterest from $45.00 to $40.00 and set an outperform rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company cut their target price on shares of Pinterest from $49.00 to $41.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Finally, Robert W. Baird decreased their target price on shares of Pinterest from $44.00 to $41.00 and set an outperform rating on the stock in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $42.50.

Pinterest Stock Up 0.1 %

Shares of Pinterest stock opened at $28.90 on Friday. Pinterest has a 12-month low of $23.59 and a 12-month high of $45.19. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 137.63, a PEG ratio of 3.27 and a beta of 1.00. The firm’s 50-day moving average price is $33.57 and its two-hundred day moving average price is $36.91.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $853.68 million for the quarter, compared to analyst estimates of $848.75 million. Pinterest had a net margin of 5.75% and a return on equity of 6.94%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, sell-side analysts expect that Pinterest will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 30,280 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $44.38, for a total value of $1,343,826.40. Following the transaction, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Pinterest news, CAO Andrea Acosta sold 2,564 shares of Pinterest stock in a transaction 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 sale, the chief accounting officer now directly owns 186,906 shares of the company’s stock, valued at $8,410,770. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now owns 362,822 shares of the company’s stock, valued at $16,102,040.36. The disclosure for this sale can be found here. 7.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in shares of Pinterest in the 4th quarter worth $367,000. Principal Securities Inc. acquired a new position in shares of Pinterest during the fourth quarter valued at about $54,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Pinterest by 13.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,053 shares of the company’s stock valued at $632,000 after buying an additional 2,009 shares during the last quarter. Westpac Banking Corp increased its position in shares of Pinterest by 497.6% during the fourth quarter. Westpac Banking Corp now owns 6,269 shares of the company’s stock worth $232,000 after acquiring an additional 5,220 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Pinterest by 67.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,441 shares of the company’s stock valued at $2,054,000 after acquiring an additional 22,397 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.