Pinterest’s (PINS) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Pinterest (NYSE:PINS) in a report released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $48.00 price objective on the stock.

PINS has been the subject of a number of other reports. Argus raised shares of Pinterest from a hold rating to a buy rating and set a $45.00 price target for the company in a research note on Thursday, January 18th. Stifel Nicolaus lifted their price target on shares of Pinterest from $26.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Wedbush lifted their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Jefferies Financial Group raised shares of Pinterest from a hold rating to a buy rating and lifted their price target for the stock from $32.00 to $41.00 in a research note on Thursday, November 30th. Finally, KeyCorp boosted their price objective on shares of Pinterest from $37.00 to $48.00 and gave the company an overweight rating in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Pinterest currently has a consensus rating of Moderate Buy and an average target price of $37.80.

Pinterest Stock Down 0.6 %

Shares of NYSE:PINS opened at $34.67 on Tuesday. Pinterest has a 52 week low of $20.60 and a 52 week high of $41.60. The stock has a market capitalization of $23.54 billion, a P/E ratio of -577.74, a PEG ratio of 4.78 and a beta of 1.00. The firm has a fifty day simple moving average of $36.17 and a two-hundred day simple moving average of $33.20.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Pinterest had a negative net margin of 1.17% and a positive return on equity of 3.83%. The business had revenue of $981.26 million during the quarter, compared to analysts’ expectations of $988.62 million. On average, analysts expect that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pinterest news, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total transaction of $866,310.90. Following the transaction, the insider now owns 500,504 shares in the company, valued at approximately $17,762,886.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Jordan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $36.29, for a total transaction of $725,800.00. Following the transaction, the director now owns 94,215 shares in the company, valued at approximately $3,419,062.35. The disclosure for this sale can be found here. Insiders sold a total of 184,471 shares of company stock worth $6,555,581 in the last 90 days. 6.85% of the stock is owned by corporate insiders.

Institutional Trading of Pinterest

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Pinterest in the 4th quarter valued at $27,000. Quarry LP purchased a new stake in shares of Pinterest in the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in shares of Pinterest in the 4th quarter valued at $30,000. Cohanzick Management LLC purchased a new stake in shares of Pinterest in the 1st quarter valued at $25,000. Finally, Washington Trust Advisors Inc. boosted its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the last quarter. 88.81% of the stock is 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.