Pinterest (NYSE:PINS) Price Target Increased to $46.00 by Analysts at Stifel Nicolaus

Pinterest (NYSE:PINS) had its target price upped by equities research analysts at Stifel Nicolaus from $42.00 to $46.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 18.56% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada upped their price objective on Pinterest from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on Pinterest from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Susquehanna increased their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price target on shares of Pinterest in a report on Tuesday, March 26th. Finally, Roth Mkm raised their price objective on shares of Pinterest from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.04.

Pinterest Price Performance

PINS opened at $38.80 on Wednesday. The stock has a 50-day moving average price of $34.50 and a 200-day moving average price of $34.30. Pinterest has a 1 year low of $20.60 and a 1 year high of $41.60. The firm has a market cap of $26.34 billion, a PE ratio of -557.66, a P/E/G ratio of 4.63 and a beta of 0.99.

Pinterest (NYSE:PINS) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. As a group, sell-side analysts anticipate that Pinterest will post 0.36 EPS for the current year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total transaction of $65,949.40. Following the completion of the sale, the director now owns 33,580 shares of the company’s stock, valued at $1,145,078. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $34.10, for a total value of $65,949.40. Following the completion of the sale, the director now directly owns 33,580 shares in the company, valued at approximately $1,145,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Donnelly Julia Brau sold 65,972 shares of Pinterest stock in a transaction on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the sale, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 in the last three months. 7.11% of the stock is owned by insiders.

Institutional Trading of Pinterest

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Pinterest during the 4th quarter worth about $241,229,000. Wellington Management Group LLP increased its position in shares of Pinterest by 1,188.9% in the fourth quarter. Wellington Management Group LLP now owns 5,989,476 shares of the company’s stock valued at $221,850,000 after buying an additional 5,524,796 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Pinterest by 279,496.9% during the 3rd quarter. Fred Alger Management LLC now owns 4,672,065 shares of the company’s stock worth $126,286,000 after buying an additional 4,670,394 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Pinterest by 43.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after buying an additional 3,390,924 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Pinterest by 128.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,580,430 shares of the company’s stock valued at $193,473,000 after buying an additional 3,134,776 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

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.