Pinterest (NYSE:PINS) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Pinterest (NYSE:PINS) in a research report sent to investors on Friday, Marketbeat.com reports. They currently have a $40.00 price target on the stock, up from their prior price target of $38.00.

PINS has been the topic of several other research reports. KeyCorp upped their price target on Pinterest from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group reduced their price target on shares of Pinterest from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their price objective on shares of Pinterest from $50.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Sanford C. Bernstein upgraded shares of Pinterest from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $34.00 to $47.00 in a report on Friday, February 7th. Finally, Oppenheimer boosted their target price on Pinterest from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Pinterest currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.27.

Pinterest Price Performance

Pinterest stock opened at $29.23 on Friday. The firm has a 50 day simple moving average of $28.84 and a 200-day simple moving average of $31.20. Pinterest has a 1-year low of $23.68 and a 1-year high of $45.19. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

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

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,667 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $37.46, for a total value of $137,365.82. Following the completion of the sale, the chief accounting officer now directly owns 144,129 shares of the company’s stock, valued at $5,399,072.34. This represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $39.19, for a total value of $45,068.50. Following the transaction, the director now directly owns 29,086 shares in the company, valued at approximately $1,139,880.34. This trade represents a 3.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,836 shares of company stock worth $14,828,392. 7.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PINS. Bartlett & CO. Wealth Management LLC acquired a new stake in Pinterest during the 1st quarter worth $25,000. Garde Capital Inc. acquired a new position in Pinterest in the 1st quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new stake in Pinterest during the 4th quarter valued at approximately $28,000. NBC Securities Inc. raised its stake in Pinterest by 99,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,000 shares of the company’s stock valued at $31,000 after acquiring an additional 999 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Pinterest during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.