Pinterest (NYSE:PINS) Receives “Buy” Rating from Rosenblatt Securities

Pinterest (NYSE:PINS)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a research report issued on Wednesday, Benzinga reports. They presently have a $48.00 target price on the stock, up from their previous target price of $45.00. Rosenblatt Securities’ price objective would suggest a potential upside of 43.43% from the stock’s current price.

PINS has been the topic of a number of other reports. Evercore ISI increased their target price on Pinterest from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Argus raised Pinterest from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 18th. Susquehanna increased their target price on Pinterest from $35.00 to $45.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Roth Mkm increased their target price on Pinterest from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Wedbush upped their price target on Pinterest from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Pinterest Stock Performance

Shares of PINS stock opened at $33.47 on Wednesday. Pinterest has a fifty-two week low of $20.60 and a fifty-two week high of $41.60. The stock has a 50 day moving average price of $34.50 and a two-hundred day moving average price of $34.30. The company has a market capitalization of $22.72 billion, a P/E ratio of -557.66, a PEG ratio of 4.63 and a beta of 0.99.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pinterest had a positive return on equity of 3.83% and a negative net margin of 1.17%. The firm had revenue of $981.26 million for the quarter, compared to analysts’ expectations of $988.62 million. As a group, equities analysts predict that Pinterest will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the sale, the director now directly owns 31,646 shares of the company’s stock, valued at approximately $1,055,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Donnelly Julia Brau sold 65,972 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the sale, the chief financial officer now directly owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $33.34, for a total value of $64,479.56. Following the sale, the director now directly owns 31,646 shares of the company’s stock, valued at $1,055,077.64. The disclosure for this sale can be found here. Insiders sold 184,471 shares of company stock worth $6,525,231 in the last quarter. 7.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legacy Capital Group California Inc. raised its position in Pinterest by 1.7% during the 4th quarter. Legacy Capital Group California Inc. now owns 16,156 shares of the company’s stock valued at $598,000 after purchasing an additional 267 shares in the last quarter. Venture Visionary Partners LLC raised its position in Pinterest by 0.7% during the 4th quarter. Venture Visionary Partners LLC now owns 49,028 shares of the company’s stock valued at $1,816,000 after purchasing an additional 324 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in shares of Pinterest by 46.0% in the 4th quarter. Washington Trust Advisors Inc. now owns 1,035 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of Pinterest by 0.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 45,922 shares of the company’s stock valued at $1,701,000 after acquiring an additional 348 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Pinterest by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,306 shares of the company’s stock valued at $48,000 after acquiring an additional 378 shares during the period. 88.81% of the stock is owned by institutional investors.

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.