Pinterest (NYSE:PINS) Given New $38.00 Price Target at Morgan Stanley

Pinterest (NYSE:PINS) had its price target raised by Morgan Stanley from $35.00 to $38.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Pinterest from $48.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their price target on shares of Pinterest from $42.00 to $46.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Sanford C. Bernstein lifted their price target on shares of Pinterest from $35.00 to $38.00 and gave the stock a market perform rating in a report on Wednesday, May 1st. The Goldman Sachs Group lifted their target price on shares of Pinterest from $44.00 to $50.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a buy rating and set a $48.00 target price (up previously from $45.00) on shares of Pinterest in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $42.52.

Pinterest Price Performance

NYSE:PINS traded down $2.10 during mid-day trading on Tuesday, reaching $38.72. The stock had a trading volume of 6,061,293 shares, compared to its average volume of 9,154,142. The stock has a 50-day simple moving average of $42.57 and a two-hundred day simple moving average of $38.51. The stock has a market capitalization of $26.45 billion, a PE ratio of 186.62, a P/E/G ratio of 4.01 and a beta of 0.97. Pinterest has a 12 month low of $23.59 and a 12 month high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. The business had revenue of $739.98 million for the quarter, compared to analysts’ expectations of $699.96 million. Equities analysts expect that Pinterest will post 0.44 EPS for the current year.

Insider Transactions at Pinterest

In other news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $42.25, for a total value of $81,711.50. Following the completion of the sale, the director now owns 29,712 shares of the company’s stock, valued at approximately $1,255,332. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Donnelly Julia Brau sold 30,280 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $44.38, for a total value of $1,343,826.40. Following the completion of the sale, the chief financial officer now directly owns 362,822 shares of the company’s stock, valued at approximately $16,102,040.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,934 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $42.25, for a total transaction of $81,711.50. Following the completion of the sale, the director now directly owns 29,712 shares of the company’s stock, valued at $1,255,332. The disclosure for this sale can be found here. Insiders have sold 50,250 shares of company stock valued at $2,191,304 in the last quarter. Insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PINS. &PARTNERS bought a new stake in shares of Pinterest in the second quarter worth approximately $306,000. RMR Wealth Builders purchased a new position in shares of Pinterest in the second quarter worth approximately $225,000. TFC Financial Management Inc. boosted its holdings in shares of Pinterest by 15.7% in the second quarter. TFC Financial Management Inc. now owns 5,980 shares of the company’s stock worth $264,000 after buying an additional 810 shares during the last quarter. Shelton Wealth Management LLC boosted its holdings in shares of Pinterest by 39.0% in the second quarter. Shelton Wealth Management LLC now owns 20,190 shares of the company’s stock worth $890,000 after buying an additional 5,663 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Pinterest by 292.6% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,003 shares of the company’s stock worth $4,677,000 after buying an additional 79,003 shares during the last quarter. 88.81% of the stock is currently 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.