Pinterest (NYSE:PINS) Stock Price Expected to Rise, Raymond James Analyst Says

Pinterest (NYSE:PINS) had its target price hoisted by analysts at Raymond James from $34.00 to $42.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 6.56% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm cut their price target on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 target price on shares of Pinterest in a report on Tuesday, December 10th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday. Rosenblatt Securities raised their target price on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company raised their target price on shares of Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Pinterest presently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

Pinterest Stock Up 17.3 %

NYSE:PINS traded up $5.83 during midday trading on Friday, hitting $39.42. The company had a trading volume of 33,279,159 shares, compared to its average volume of 11,606,911. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The stock’s fifty day moving average price is $31.23 and its 200-day moving average price is $31.57. The company has a market capitalization of $26.64 billion, a PE ratio of 132.04, a P/E/G ratio of 1.68 and a beta of 1.06.

Pinterest (NYSE:PINS) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a net margin of 6.21% and a return on equity of 8.37%. As a group, research analysts forecast that Pinterest will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Pinterest

In related news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares in the company, valued at $920,081.48. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $30.82, for a total transaction of $365,586.84. Following the sale, the insider now owns 246,921 shares in the company, valued at approximately $7,610,105.22. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,157 shares of company stock worth $589,131. 7.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of institutional investors have recently bought and sold shares of PINS. Whipplewood Advisors LLC acquired a new stake in Pinterest during the 4th quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in Pinterest by 63.5% in the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest in the 3rd quarter worth approximately $37,000. Crewe Advisors LLC lifted its holdings in Pinterest by 91.1% in the 3rd quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock worth $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Pinterest by 8,261.1% in the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after buying an additional 1,487 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

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.