The Goldman Sachs Group Issues Positive Forecast for Pinterest (NYSE:PINS) Stock Price

Pinterest (NYSE:PINS) had its target price lifted by The Goldman Sachs Group from $42.00 to $47.00 in a research report sent to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on PINS. Roth Mkm reduced their price objective on shares of Pinterest from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Guggenheim boosted their price target on shares of Pinterest from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Pinterest from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a report on Monday, January 13th. Finally, Robert W. Baird reduced their target price on shares of Pinterest from $41.00 to $36.00 and set an “outperform” rating for the company in a report 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 company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Pinterest Stock Performance

Pinterest stock opened at $40.02 on Friday. The firm has a market capitalization of $27.04 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06. The company has a 50-day simple moving average of $31.23 and a 200-day simple moving average of $31.57. Pinterest has a one year low of $27.00 and a one year high of $45.19.

Pinterest (NYSE:PINS) last announced its quarterly earnings results 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 51.07% and a return on equity of 9.20%. As a group, sell-side analysts forecast that Pinterest will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Pinterest

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its holdings in Pinterest by 5.2% during the third quarter. Sequoia Financial Advisors LLC now owns 6,329 shares of the company’s stock valued at $205,000 after purchasing an additional 313 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Pinterest by 3.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,380 shares of the company’s stock worth $304,000 after buying an additional 339 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Pinterest by 2.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,626 shares of the company’s stock valued at $366,000 after buying an additional 342 shares during the last quarter. Ethos Financial Group LLC raised its holdings in Pinterest by 3.1% in the 4th quarter. Ethos Financial Group LLC now owns 11,803 shares of the company’s stock worth $342,000 after acquiring an additional 350 shares during the period. Finally, Amalgamated Bank lifted its position in Pinterest by 0.9% during the 4th quarter. Amalgamated Bank now owns 39,792 shares of the company’s stock worth $1,154,000 after acquiring an additional 372 shares during the last quarter. 88.81% of the stock is 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.