Wedbush Increases Pinterest (NYSE:PINS) Price Target to $38.00

Pinterest (NYSE:PINSFree Report) had its target price boosted by Wedbush from $35.00 to $38.00 in a research note published on Friday morning, MarketBeat reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on PINS. Bank of America raised Pinterest from a neutral rating to a buy rating and lifted their price objective for the company from $32.00 to $37.00 in a research report on Tuesday, October 31st. Stifel Nicolaus lifted their price objective on Pinterest from $26.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Evercore ISI lifted their price objective on Pinterest from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Roth Mkm upped their price objective on Pinterest from $31.00 to $37.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Finally, Morgan Stanley upped their price objective on Pinterest from $24.00 to $25.00 and gave the company an equal weight rating in a research report on Tuesday, October 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Pinterest currently has an average rating of Moderate Buy and a consensus target price of $37.52.

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Pinterest Stock Down 3.7 %

PINS stock opened at $35.50 on Friday. Pinterest has a twelve month low of $20.60 and a twelve month high of $41.60. The stock has a market cap of $23.94 billion, a P/E ratio of -600.33, a PEG ratio of 3.78 and a beta of 1.02. The business’s 50-day moving average price is $37.15 and its 200-day moving average price is $31.31.

Insider Activity at Pinterest

In related news, insider Wanjiku Juanita Walcott sold 11,410 shares of Pinterest stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $32.28, for a total transaction of $368,314.80. Following the completion of the transaction, the insider now directly owns 216,326 shares in the company, valued at $6,983,003.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,934 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $37.95, for a total value of $73,395.30. Following the completion of the sale, the director now directly owns 39,382 shares in the company, valued at $1,494,546.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanjiku Juanita Walcott sold 11,410 shares of Pinterest stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $32.28, for a total value of $368,314.80. Following the completion of the sale, the insider now directly owns 216,326 shares in the company, valued at $6,983,003.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,737 shares of company stock worth $2,826,987. 6.85% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

A number of institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. acquired a new stake in shares of Pinterest in the fourth quarter worth approximately $5,741,000. Tradition Wealth Management LLC boosted its stake in Pinterest by 41.1% during the fourth quarter. Tradition Wealth Management LLC now owns 2,177 shares of the company’s stock worth $81,000 after buying an additional 634 shares during the last quarter. Bank of Nova Scotia boosted its stake in Pinterest by 1,357.6% during the fourth quarter. Bank of Nova Scotia now owns 223,284 shares of the company’s stock worth $8,270,000 after buying an additional 207,965 shares during the last quarter. Qtron Investments LLC acquired a new position in Pinterest during the fourth quarter worth $238,000. Finally, Stifel Financial Corp boosted its stake in Pinterest by 22.0% during the fourth quarter. Stifel Financial Corp now owns 153,588 shares of the company’s stock worth $5,689,000 after buying an additional 27,678 shares during the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.

About Pinterest

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Pinterest, Inc operates as a visual discovery engine in the United States and internationally. The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. It shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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