Pinterest (NYSE:PINS) Price Target Raised to $37.00

Pinterest (NYSE:PINS) had its price objective hoisted by Morgan Stanley from $28.00 to $37.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also recently commented on PINS. JPMorgan Chase & Co. reduced their price target on Pinterest from $42.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wedbush restated an “outperform” rating and issued a $40.00 price target (up from $38.00) on shares of Pinterest in a research note on Friday. Citigroup decreased their price target on Pinterest from $47.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Royal Bank of Canada raised their price target on Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.27.

Pinterest Stock Performance

NYSE:PINS opened at $29.23 on Friday. The company has a market cap of $19.82 billion, a PE ratio of 10.87, a PEG ratio of 1.95 and a beta of 0.83. Pinterest has a 52-week low of $23.68 and a 52-week high of $45.19. The stock has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $31.20.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $854.99 million for the quarter, compared to the consensus estimate of $848.49 million. Pinterest had a return on equity of 8.10% and a net margin of 51.07%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. On average, research analysts predict that Pinterest will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.85, for a total transaction of $219,766.50. Following the completion of the sale, the insider now directly owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,836 shares of company stock valued at $14,828,392. Insiders own 7.06% of the company’s stock.

Institutional Trading of Pinterest

Several hedge funds have recently added to or reduced their stakes in PINS. Wilmington Savings Fund Society FSB bought a new position in Pinterest during the 3rd quarter worth $87,000. GAMMA Investing LLC increased its stake in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares during the period. Graypoint LLC bought a new position in Pinterest during the 4th quarter worth $317,000. Claro Advisors LLC bought a new position in Pinterest during the 4th quarter worth $226,000. Finally, Pallas Capital Advisors LLC increased its stake in Pinterest by 49.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 23,304 shares of the company’s stock worth $676,000 after acquiring an additional 7,709 shares during the period. 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.