Pinterest (NYSE:PINS) Stock Rating Upgraded by Guggenheim

Guggenheim upgraded shares of Pinterest (NYSE:PINS) from a neutral rating to a buy rating in a research note published on Monday, MarketBeat Ratings reports. The firm currently has $40.00 price objective on the stock, up from their previous price objective of $39.00.

A number of other analysts have also recently commented on the stock. Piper Sandler restated a “neutral” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Pinterest in a research report on Friday, February 7th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Pinterest in a research note on Monday, January 13th. Raymond James raised their price target on Pinterest from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Pinterest in a report on Friday, February 7th. Finally, Benchmark raised Pinterest from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pinterest has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Pinterest Trading Up 5.0 %

Shares of PINS opened at $34.05 on Monday. The stock has a market cap of $23.09 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The stock’s 50-day moving average price is $34.46 and its two-hundred day moving average price is $32.31. Pinterest has a 1 year low of $27.00 and a 1 year high of $45.19.

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

Insider Activity at Pinterest

In other Pinterest news, Director Gokul Rajaram sold 1,150 shares of the company’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 sale, the director now directly owns 30,236 shares of the company’s stock, valued at approximately $920,081.48. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $31.16, for a total transaction of $3,180,906.28. Following the completion of the sale, the director now owns 6,274 shares of the company’s stock, valued at approximately $195,497.84. This represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,417 shares of company stock valued at $7,803,946. Insiders own 7.11% of the company’s stock.

Hedge Funds Weigh In On Pinterest

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Pinterest by 104.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,432,141 shares of the company’s stock valued at $737,533,000 after buying an additional 12,986,310 shares during the last quarter. Norges Bank bought a new stake in Pinterest in the 4th quarter valued at $358,205,000. Marshall Wace LLP lifted its holdings in Pinterest by 134.1% during the 4th quarter. Marshall Wace LLP now owns 10,701,783 shares of the company’s stock valued at $310,352,000 after purchasing an additional 6,129,985 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Pinterest during the third quarter worth $153,829,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Pinterest by 49.7% in the fourth quarter. Ameriprise Financial Inc. now owns 13,635,800 shares of the company’s stock valued at $395,441,000 after purchasing an additional 4,527,902 shares during 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.