Pinterest (NYSE:PINS) Price Target Raised to $52.00 at Royal Bank of Canada

Pinterest (NYSE:PINS) had its price objective boosted by Royal Bank of Canada from $48.00 to $52.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued research reports about the company. Wedbush increased their target price on Pinterest from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Wednesday. Benchmark reaffirmed a hold rating on shares of Pinterest in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an overweight rating in a report on Wednesday. KeyCorp dropped their target price on shares of Pinterest from $48.00 to $40.00 and set an overweight rating on the stock in a research note on Wednesday, April 24th. Finally, 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. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Pinterest presently has an average rating of Moderate Buy and a consensus target price of $40.82.

Pinterest Trading Up 20.8 %

Pinterest stock opened at $40.40 on Wednesday. Pinterest has a 12-month low of $20.60 and a 12-month high of $41.60. The firm has a 50-day moving average price of $34.60 and a 200-day moving average price of $34.40. The firm has a market capitalization of $27.43 billion, a PE ratio of 192.39, a price-to-earnings-growth ratio of 4.58 and a beta of 0.99.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Pinterest had a net margin of 4.64% and a return on equity of 6.08%. The business had revenue of $981.26 million during the quarter, compared to the consensus estimate of $988.62 million. As a group, sell-side analysts predict that Pinterest will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Pinterest

In other news, Director Jeffrey D. Jordan sold 20,000 shares of Pinterest stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.65, for a total value of $733,000.00. Following the transaction, the director now owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Jeffrey D. Jordan sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.65, for a total value of $733,000.00. Following the completion of the sale, the director now owns 54,215 shares of the company’s stock, valued at approximately $1,986,979.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabrina Ellis sold 24,410 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $35.49, for a total value of $866,310.90. Following the transaction, the insider now directly owns 500,504 shares in the company, valued at $17,762,886.96. The disclosure for this sale can be found here. Insiders have sold 164,471 shares of company stock worth $5,773,431 over the last quarter. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Capital Group California Inc. increased its stake in Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after purchasing an additional 267 shares in the last quarter. Venture Visionary Partners LLC increased its position in shares of Pinterest by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after acquiring an additional 324 shares during the period. Washington Trust Advisors Inc. increased its position 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 period. Creative Financial Designs Inc. ADV raised its stake in Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock worth $1,701,000 after acquiring an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Pinterest by 40.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock worth $48,000 after acquiring an additional 378 shares during the period. 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.