Wells Fargo & Company Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its price objective raised by Wells Fargo & Company from $28.00 to $30.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 34.92% from the stock’s previous close.

Several other research firms also recently weighed in on PINS. Royal Bank Of Canada lifted their price target on shares of Pinterest from $17.00 to $23.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Rothschild & Co Redburn set a $23.00 price target on shares of Pinterest and gave the stock a “neutral” rating in a report on Monday, April 27th. Barclays upped their price target on Pinterest from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 price objective (up from $21.00) on shares of Pinterest in a report on Tuesday, May 5th. Finally, Stifel Nicolaus lifted their target price on Pinterest from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pinterest has an average rating of “Hold” and a consensus price target of $27.47.

Pinterest Trading Up 0.7%

Shares of PINS stock opened at $22.23 on Tuesday. The stock has a market cap of $12.46 billion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.89. Pinterest has a 1 year low of $13.84 and a 1 year high of $39.93. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $20.55 and a 200 day simple moving average of $20.97.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a net margin of 7.64% and a return on equity of 8.26%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $965.84 million. During the same period in the previous year, the business earned $0.23 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. On average, research analysts predict that Pinterest will post 0.66 earnings per share for the current fiscal year.

Insider Activity

In other Pinterest news, insider Wanjiku Juanita Walcott sold 14,208 shares of Pinterest stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $19.65, for a total value of $279,187.20. Following the completion of the sale, the insider owned 691,840 shares of the company’s stock, valued at approximately $13,594,656. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gokul Rajaram sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director directly owned 27,450 shares in the company, valued at approximately $549,000. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 279,070 shares of company stock valued at $5,817,283. Corporate insiders own 8.09% of the company’s stock.

Institutional Investors Weigh In On Pinterest

A number of hedge funds have recently bought and sold shares of the business. Yousif Capital Management LLC lifted its holdings in shares of Pinterest by 2,298.3% in the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after acquiring an additional 177,449 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Pinterest by 82.7% in the third quarter. Korea Investment CORP now owns 703,483 shares of the company’s stock valued at $22,631,000 after purchasing an additional 318,351 shares during the period. Forsta AP Fonden grew its position in shares of Pinterest by 61.2% during the 4th quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after buying an additional 150,900 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Pinterest during the 4th quarter worth about $12,812,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Pinterest by 103.4% during the fourth quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after purchasing an additional 426,300 shares in the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.