Pinterest (NYSE:PINS) Given New $49.00 Price Target at Loop Capital

Pinterest (NYSE:PINSFree Report) had its target price raised by Loop Capital from $43.00 to $49.00 in a research report sent to investors on Monday morning, Benzinga reports. Loop Capital currently has a buy rating on the stock.

PINS has been the topic of a number of other research reports. Sanford C. Bernstein upped their price objective on Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a research note on Wednesday, May 1st. Wedbush boosted their target price on shares of Pinterest from $38.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on Pinterest from $47.00 to $48.00 and gave the company an overweight rating in a report on Wednesday, May 1st. 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 research note on Wednesday, May 1st. Finally, Susquehanna increased their target price on shares of Pinterest from $35.00 to $45.00 and gave the stock a positive rating in a report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has an average rating of Moderate Buy and a consensus price target of $41.26.

Get Our Latest Analysis on Pinterest

Pinterest Stock Down 1.5 %

Pinterest stock traded down $0.64 during mid-day trading on Monday, reaching $42.01. The company had a trading volume of 9,968,722 shares, compared to its average volume of 11,203,896. Pinterest has a 52 week low of $21.02 and a 52 week high of $42.95. The firm has a market cap of $28.70 billion, a price-to-earnings ratio of 200.03, a PEG ratio of 4.12 and a beta of 0.99. The company has a 50 day moving average of $35.40 and a 200-day moving average of $35.01.

Pinterest (NYSE:PINSGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $981.26 million for the quarter, compared to analyst estimates of $988.62 million. Pinterest had a return on equity of 5.93% and a net margin of 4.64%. On average, analysts predict that Pinterest will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,934 shares of Pinterest stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Gokul Rajaram sold 1,934 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $33.34, for a total transaction of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sabrina Ellis sold 24,410 shares of Pinterest stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.49, for a total transaction of $866,310.90. Following the completion of 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. In the last 90 days, insiders have sold 164,471 shares of company stock valued at $5,773,431. Company insiders own 7.11% of the company’s stock.

Institutional Investors Weigh In On Pinterest

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Pinterest by 1.8% in the first quarter. Vanguard Group Inc. now owns 57,343,800 shares of the company’s stock worth $1,988,110,000 after buying an additional 994,848 shares during the period. Ameriprise Financial Inc. grew its stake in Pinterest by 43.9% in the third quarter. Ameriprise Financial Inc. now owns 11,122,436 shares of the company’s stock worth $300,639,000 after purchasing an additional 3,390,924 shares during the period. Franklin Resources Inc. raised its holdings in Pinterest by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Pinterest by 12.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,305,759 shares of the company’s stock valued at $344,685,000 after buying an additional 1,043,173 shares in the last quarter. Finally, Capital World Investors increased its position in Pinterest by 0.7% during the 4th quarter. Capital World Investors now owns 8,887,130 shares of the company’s stock valued at $329,179,000 after buying an additional 64,270 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

Pinterest Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Pinterest (NYSE:PINS)

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