Barclays Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price increased by Barclays from $36.00 to $42.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on PINS. KeyCorp boosted their target price on shares of Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group dropped their price objective on Pinterest from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Wedbush raised their target price on Pinterest from $38.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley upped their price target on Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Pinterest from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Pinterest has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Pinterest Trading Up 19.1 %

Shares of Pinterest stock opened at $40.02 on Friday. The business’s fifty day simple moving average is $31.23 and its 200 day simple moving average is $31.57. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The firm has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last announced its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 9.20%. Analysts predict that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now owns 246,921 shares in the company, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock worth $589,131. Insiders own 7.11% of the company’s stock.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of Pinterest during the fourth quarter worth approximately $28,000. GAMMA Investing LLC raised its position in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the period. V Square Quantitative Management LLC bought a new stake in Pinterest in the third quarter worth $37,000. Crewe Advisors LLC lifted its stake in Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in Pinterest by 8,261.1% during the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the period. Hedge funds and other 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.