Pinterest (NYSE:PINS) Price Target Raised to $42.00 at Raymond James

Pinterest (NYSE:PINS) had its price target raised by Raymond James from $34.00 to $42.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

PINS has been the topic of a number of other reports. Roth Mkm decreased their price objective on Pinterest from $39.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. KeyCorp upped their price target on Pinterest from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer lowered their price objective on Pinterest from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Pinterest from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, Benchmark upgraded shares of 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. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Pinterest currently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Pinterest Stock Up 19.1 %

Pinterest stock opened at $40.02 on Friday. Pinterest has a 12-month low of $27.00 and a 12-month high of $45.19. The stock has a 50-day simple moving average of $31.23 and a 200 day simple moving average of $31.57. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.72 and a beta of 1.06.

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

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 11,862 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 246,921 shares of the company’s stock, valued at $7,610,105.22. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.73, for a total transaction of $34,189.50. Following the completion of the sale, the director now owns 32,536 shares in the company, valued at $967,295.28. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,157 shares of company stock worth $589,131 over the last ninety days. Company insiders own 7.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new stake in Pinterest during the 4th quarter worth about $28,000. GAMMA Investing LLC raised its holdings in Pinterest by 63.5% during the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after acquiring an additional 415 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Pinterest during the third quarter valued at approximately $37,000. Crewe Advisors LLC boosted its position in Pinterest by 91.1% during the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after purchasing an additional 550 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after purchasing an additional 1,487 shares in the last quarter. Institutional investors own 88.81% of the company’s stock.

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.