Pinterest, Inc. (NYSE:PINS) Receives Consensus Rating of “Moderate Buy” from Analysts

Pinterest, Inc. (NYSE:PINS) has been assigned an average rating of “Moderate Buy” from the thirty ratings firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.47.

Several research analysts have recently commented on the company. Benchmark upgraded Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, February 7th. KeyCorp increased their price objective on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Piper Sandler reiterated a “neutral” rating and issued a $41.00 price objective (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Barclays increased their price objective on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. Finally, Roth Capital set a $32.00 price objective on Pinterest in a research note on Monday, February 3rd.

Pinterest Price Performance

Shares of Pinterest stock opened at $32.03 on Tuesday. The business has a 50 day simple moving average of $34.34 and a two-hundred day simple moving average of $32.29. Pinterest has a 12 month low of $27.00 and a 12 month high of $45.19. The stock has a market capitalization of $21.72 billion, a P/E ratio of 11.91, a PEG ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a net margin of 51.07% and a return on equity of 8.10%. As a group, research analysts anticipate that Pinterest will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.43, for a total value of $34,994.50. Following the sale, the director now owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanjiku Juanita Walcott sold 6,690 shares of Pinterest stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.85, for a total transaction of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at approximately $8,350,831.35. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,879 shares of company stock valued at $3,653,577. 7.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PINS. Price T Rowe Associates Inc. MD raised its position in shares of Pinterest by 104.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock worth $737,533,000 after purchasing an additional 12,986,310 shares during the last quarter. Norges Bank acquired a new position in Pinterest in the 4th quarter valued at $358,205,000. Marshall Wace LLP raised its holdings in Pinterest by 134.1% in the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after acquiring an additional 6,129,985 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Pinterest in the 3rd quarter valued at $153,829,000. Finally, Ameriprise Financial Inc. raised its holdings in Pinterest by 49.7% in the 4th quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after acquiring an additional 4,527,902 shares during the last quarter. 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.