Barclays Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price raised by Barclays from $36.00 to $42.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on PINS. Royal Bank of Canada increased their target price on Pinterest from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Pinterest in a report on Monday, January 13th. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Pinterest in a report on Friday. Wells Fargo & Company increased their price target on shares of Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Raymond James lifted their price target on shares of Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Up 19.1 %

Shares of PINS opened at $40.02 on Friday. The firm has a fifty day simple moving average of $31.23 and a two-hundred day simple moving average of $31.57. Pinterest has a twelve month low of $27.00 and a twelve month high of $45.19. The stock has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06.

Pinterest (NYSE:PINS) last posted its earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.30). Pinterest had a return on equity of 9.20% and a net margin of 51.07%. Sell-side analysts expect that Pinterest will post 0.59 EPS for the current fiscal year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.73, for a total transaction of $34,189.50. Following the sale, the director now owns 32,536 shares of the company’s stock, valued at $967,295.28. The trade was a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wanjiku Juanita Walcott sold 11,862 shares of Pinterest stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $30.82, for a total value of $365,586.84. Following the transaction, the insider now directly owns 246,921 shares of the company’s stock, 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. In the last three months, insiders sold 19,157 shares of company stock valued at $589,131. Corporate insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

Several institutional investors have recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC acquired a new position in Pinterest during the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Pinterest during the third quarter worth about $37,000. Crewe Advisors LLC raised its holdings in shares of 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 period. Finally, True Wealth Design LLC grew its holdings in shares of Pinterest by 8,261.1% during the 3rd quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.

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.