Guggenheim Increases Pinterest (NYSE:PINS) Price Target to $39.00

Pinterest (NYSE:PINS) had its target price increased by Guggenheim from $33.00 to $39.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer cut their target price on shares of Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Rosenblatt Securities raised their price objective on shares of Pinterest from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their target price on shares of Pinterest from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Robert W. Baird cut their price target on Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Roth Mkm cut their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Up 19.1 %

Shares of PINS stock opened at $40.02 on Friday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.72 and a beta of 1.06. The stock has a fifty day moving average of $31.23 and a 200 day moving average of $31.57.

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

Insider Activity at Pinterest

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Andrea Acosta sold 3,845 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $30.88, for a total value of $118,733.60. Following the transaction, the chief accounting officer now owns 158,468 shares of the company’s stock, valued at approximately $4,893,491.84. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,157 shares of company stock worth $589,131. Company insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC acquired a new position in shares of Pinterest in the 4th quarter valued at $28,000. GAMMA Investing LLC raised its position in Pinterest by 63.5% during 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 in the last quarter. V Square Quantitative Management LLC acquired a new position in Pinterest in the third quarter valued at approximately $37,000. Crewe Advisors LLC boosted its position 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 in the last quarter. Finally, True Wealth Design LLC grew its stake 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.

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.