Pinterest (NYSE:PINS) Stock Price Expected to Rise, Raymond James Analyst Says

Pinterest (NYSE:PINS) had its target price upped by equities researchers at Raymond James from $34.00 to $42.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 6.56% from the stock’s previous close.

Several other analysts have also commented on PINS. Piper Sandler reaffirmed a “neutral” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research report on Friday. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Morgan Stanley increased their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Oppenheimer dropped their price target on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, KeyCorp raised their target price on shares of Pinterest from $37.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, Pinterest has a consensus rating of “Moderate Buy” and an average price target of $42.83.

Pinterest Price Performance

NYSE PINS traded up $5.83 during mid-day trading on Friday, reaching $39.42. 33,279,159 shares of the stock were exchanged, compared to its average volume of 11,606,911. The stock has a market cap of $26.64 billion, a P/E ratio of 132.04, a P/E/G ratio of 1.68 and a beta of 1.06. The stock has a 50 day simple moving average of $31.23 and a 200-day simple moving average of $31.57. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. Sell-side analysts anticipate that Pinterest will post 0.42 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other Pinterest news, CAO Andrea Acosta sold 3,845 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now directly owns 158,468 shares in the company, valued at approximately $4,893,491.84. This trade represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the completion of the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in shares of Pinterest by 8.8% in the 2nd quarter. Cetera Investment Advisers now owns 69,122 shares of the company’s stock valued at $3,046,000 after purchasing an additional 5,587 shares during the period. CWM LLC raised its stake in shares of Pinterest by 91.5% in the 3rd quarter. CWM LLC now owns 66,685 shares of the company’s stock valued at $2,159,000 after purchasing an additional 31,863 shares during the period. Perpetual Ltd increased its position in shares of Pinterest by 218.4% in the third quarter. Perpetual Ltd now owns 35,030 shares of the company’s stock valued at $1,134,000 after acquiring an additional 24,028 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Pinterest by 500.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,200 shares of the company’s stock valued at $136,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Pinterest by 52.3% in the third quarter. Exchange Traded Concepts LLC now owns 12,295 shares of the company’s stock valued at $398,000 after acquiring an additional 4,223 shares during the last quarter. 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.