Pinterest’s (PINS) Buy Rating Reaffirmed at Guggenheim

Pinterest (NYSE:PINS)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a note issued to investors on Tuesday,Benzinga reports.

A number of other equities research analysts have also weighed in on the company. Oppenheimer boosted their price objective on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their target price on Pinterest from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Wedbush raised their target price on Pinterest from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Benchmark raised shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Friday, February 7th. Finally, Raymond James increased their price target on Pinterest from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Pinterest Stock Performance

NYSE:PINS opened at $31.45 on Tuesday. Pinterest has a 52 week low of $27.00 and a 52 week high of $45.19. The firm’s 50-day simple moving average is $34.64 and its 200 day simple moving average is $32.43. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 11.69, 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 analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Sell-side analysts anticipate that Pinterest will post 0.6 EPS for the current year.

Insider Transactions at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.85, for a total value of $219,766.50. Following the sale, the insider now owns 254,211 shares of the company’s stock, valued at $8,350,831.35. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Andrea Acosta sold 3,667 shares of Pinterest stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $37.46, for a total value of $137,365.82. Following the sale, the chief accounting officer now owns 144,129 shares of the company’s stock, valued at approximately $5,399,072.34. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,753 shares of company stock valued at $11,640,201. 7.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pinterest

A number of institutional investors and hedge funds have recently bought and sold shares of PINS. Price T Rowe Associates Inc. MD grew its stake in Pinterest by 104.3% in 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 buying an additional 12,986,310 shares in the last quarter. Norges Bank purchased a new position in Pinterest in the fourth quarter worth $358,205,000. Marshall Wace LLP increased its stake in Pinterest by 134.1% in the fourth 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. purchased a new stake in Pinterest during the third quarter valued at about $153,829,000. Finally, Ameriprise Financial Inc. lifted its stake in Pinterest by 49.7% during the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock worth $395,441,000 after purchasing an additional 4,527,902 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other 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.