Pinterest (NYSE:PINS) Price Target Raised to $40.00

Pinterest (NYSE:PINS) had its target price hoisted by Barclays from $38.00 to $40.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on PINS. Sanford C. Bernstein lifted their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. KeyCorp lifted their target price on shares of Pinterest from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wedbush lifted their target price on shares of Pinterest from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Citigroup reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $41.00) on shares of Pinterest in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company set a $42.00 target price on shares of Pinterest and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Five investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.40.

Pinterest Stock Down 10.2%

NYSE:PINS opened at $35.19 on Friday. The company’s 50 day moving average price is $36.01 and its 200-day moving average price is $33.13. Pinterest has a 52 week low of $23.68 and a 52 week high of $40.90. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.76 and a beta of 0.78.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Pinterest had a net margin of 49.31% and a return on equity of 8.44%. The firm had revenue of $998.23 million for the quarter, compared to analysts’ expectations of $973.42 million. During the same quarter in the previous year, the company earned $0.29 EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pinterest will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Pinterest news, CFO Donnelly Julia Brau sold 29,606 shares of Pinterest stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $34.25, for a total value of $1,014,005.50. Following the sale, the chief financial officer directly owned 362,890 shares in the company, valued at approximately $12,428,982.50. The trade was a 7.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wanjiku Juanita Walcott sold 11,510 shares of Pinterest stock in a transaction on Friday, June 27th. The shares were sold at an average price of $35.68, for a total transaction of $410,676.80. Following the completion of the sale, the insider owned 390,230 shares in the company, valued at approximately $13,923,406.40. This represents a 2.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,502,611 shares of company stock worth $51,602,943 in the last 90 days. 7.11% of the stock is owned by company insiders.

Institutional Trading of Pinterest

Institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its holdings in Pinterest by 282.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 685 shares of the company’s stock valued at $25,000 after acquiring an additional 506 shares during the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Pinterest during the 1st quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in shares of Pinterest during the 1st quarter valued at about $26,000. NBC Securities Inc. raised its position in shares of 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 buying an additional 999 shares in the last quarter. Finally, West Branch Capital LLC purchased a new stake in shares of Pinterest during the 2nd quarter valued at about $36,000. 88.81% of the stock is currently owned by institutional investors.

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.