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

Pinterest, Inc. (NYSE:PINS) has been given a consensus recommendation of “Moderate Buy” by the thirty analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $43.47.

Several brokerages have recently issued reports on PINS. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Pinterest in a research note on Friday, February 7th. Monness Crespi & Hardt raised shares of Pinterest from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, January 10th. Cantor Fitzgerald boosted their price objective on shares of Pinterest from $36.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. TD Cowen began coverage on shares of Pinterest in a research report on Tuesday, November 26th. They set a “buy” rating and a $38.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Pinterest in a research report on Monday, January 13th.

Insider Activity

In related news, insider Wanjiku Juanita Walcott sold 6,690 shares of the stock in a transaction dated 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 in the company, valued at $8,350,831.35. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,150 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $30.98, for a total transaction of $35,627.00. Following the sale, the director now owns 31,386 shares in the company, valued at approximately $972,338.28. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,879 shares of company stock worth $3,653,577. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

Several institutional investors and hedge funds have recently bought and sold shares of PINS. Van ECK Associates Corp raised its stake in Pinterest by 30.5% during the third quarter. Van ECK Associates Corp now owns 83,418 shares of the company’s stock worth $2,631,000 after acquiring an additional 19,508 shares during the period. Atria Investments Inc raised its stake in Pinterest by 4.0% during the third quarter. Atria Investments Inc now owns 26,686 shares of the company’s stock worth $864,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd raised its stake in Pinterest by 36.1% during the third quarter. Covestor Ltd now owns 4,678 shares of the company’s stock worth $151,000 after acquiring an additional 1,241 shares during the period. Axxcess Wealth Management LLC raised its stake in Pinterest by 9.5% during the third quarter. Axxcess Wealth Management LLC now owns 6,965 shares of the company’s stock worth $225,000 after acquiring an additional 605 shares during the period. Finally, Baker Avenue Asset Management LP grew its position in Pinterest by 9.0% in the 3rd quarter. Baker Avenue Asset Management LP now owns 62,540 shares of the company’s stock worth $2,024,000 after purchasing an additional 5,156 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Pinterest Stock Up 0.2 %

Shares of NYSE PINS opened at $32.03 on Tuesday. Pinterest has a 52-week low of $27.00 and a 52-week high of $45.19. The firm has a fifty day moving average of $34.34 and a 200-day moving average of $32.29. The stock has a market capitalization of $21.72 billion, a PE ratio of 11.91, a P/E/G ratio of 1.95 and a beta of 1.02.

Pinterest (NYSE:PINS) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share (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 8.10%. Equities research analysts expect that Pinterest will post 0.6 EPS for the current fiscal year.

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.