Pinterest (NYSE:PINS) Stock Price Up 12.9% After Analyst Upgrade

Pinterest, Inc. (NYSE:PINS)’s stock price rose 12.9% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $35.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pinterest traded as high as $33.54 and last traded at $32.98. Approximately 7,696,049 shares traded hands during trading, a decline of 40% from the average daily volume of 12,837,813 shares. The stock had previously closed at $29.22.

PINS has been the subject of a number of other research reports. Barclays dropped their target price on shares of Pinterest from $42.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday. Rosenblatt Securities upped their price target on shares of Pinterest from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on shares of Pinterest from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Monness Crespi & Hardt lowered their price objective on shares of Pinterest from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup increased their price objective on shares of Pinterest from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.27.

Insider Transactions at Pinterest

In related news, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total transaction of $137,365.82. Following the completion of the sale, the chief accounting officer now owns 144,129 shares in the company, valued at $5,399,072.34. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $27.00, for a total transaction of $31,050.00. Following the sale, the director now owns 26,786 shares of the company’s stock, valued at $723,222. The trade was a 4.12% 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. GAMMA Investing LLC lifted its holdings in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Graypoint LLC bought a new stake in Pinterest during the 4th quarter valued at about $317,000. Claro Advisors LLC bought a new stake in Pinterest during the 4th quarter valued at about $226,000. Pallas Capital Advisors LLC lifted its holdings in Pinterest by 49.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 23,304 shares of the company’s stock valued at $676,000 after buying an additional 7,709 shares in the last quarter. Finally, Leibman Financial Services Inc. lifted its holdings in Pinterest by 102.2% during the 4th quarter. Leibman Financial Services Inc. now owns 64,222 shares of the company’s stock valued at $1,862,000 after buying an additional 32,464 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Stock Performance

The business’s fifty day moving average is $28.77 and its two-hundred day moving average is $31.21. The company has a market cap of $22.26 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Pinterest (NYSE:PINS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $848.49 million. Pinterest had a net margin of 51.07% and a return on equity of 8.10%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. Analysts expect that Pinterest, Inc. will post 0.6 EPS for the current fiscal year.

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.